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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: 136.8 GBX

LSE:PFC
Market: LSE
Market Cap: £4.74 m
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