logo-loader
viewPetrofac Limited

Petrofac says former employee admits to bribery charges

Petrofac noted that no charges have been brought against any group company or any other officers or employees.

Petrofac Limited - Former Petrofac employee admits to bribery charges

Petrofac (LON:PFC) has issued a statement acknowledging an announcement by the  Serious Fraud Office, that a former employee of a Petrofac subsidiary has admitted charges under the UK Bribery Act 2010.

The charges relate to three historic contract awards in the UAE in 2013 and 2014, Petrofac noted.

Petrofac also noted that no charges have been brought against any group company or any other officers or employees.

" A small number of former Petrofac employees are alleged to have acted together with the individual concerned, although none have been charged. No current Board member of Petrofac Limited is alleged to have been involved,” Petrofac said in the statement.

“Petrofac's management is committed to operating at the highest standards of ethical business practice. Petrofac continues to engage with the SFO and will respond to any further developments as appropriate,” it added.

Quick facts: Petrofac Limited

Price: 128.2 GBX

LSE:PFC
Market: LSE
Market Cap: £443.46 m
Follow

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Market Report: British economy in focus on Budget Day 2021

The Market Report with Katie Pilbeam. FTSE 100 opened in the green ahead one of the most keenly anticipated Budget announcements in decades. London’s leading index rose 81 points to 6,695 in early trading.   Chancellor Rishi Sunak is expected to allocate £10bn to extend the furlough...

14 hours, 6 minutes ago

2 min read