An investigation into undisclosed dealing of Bytes Technology Group PLC (LSE:BYIT, JSE:BYI) shares has revealed no further misconduct among team members at the FTSE 250-listed IT company
A statement from the company said: “The investigation has found no evidence that (former chief executive Neil) Murphy's share dealing involved any other parties, nor any evidence of a wider pattern of misconduct by Mr Murphy impacting or implicating any of BTG (LSE:BTG)'s staff, customers or suppliers.
“Mr Murphy has expressed profound regret for his failure to comply with regulations and the impact of his actions on both BTG (LSE:BTG) and his former colleagues.
Bytes, in March, disclosed that Murphy conducted unauthorised trading of Bytes' shares on 66 occasions, totalling 119 transactions between 6 January 2021 and 10 November 2023.
An investigation was initiated following a request for information from the Financial Conduct Authority (FCA), which indicated that Murphy "may have conducted additional transactions that were not disclosed" since the company's initial public offer in December 2020.
Murphy resigned as Byes’ chief executive in February, triggering the investigation.