SBM OFFSHORE UPDATE ON INTERNAL INVESTIGATION
(Thomson Reuters ONE) -
Update on internal investigation
Reference is made to the press release of 12 March 2013 in respect of a rights
issue which SBM Offshore intends to launch. Subject to approval by the annual
general meeting of shareholders of SBM Offshore on 2 April 2013, a prospectus
for the rights issue will be issued shortly after that date. In the prospectus,
SBM Offshore will give an update on the initial feedback of the investigation
into potentially improper sales practices announced on 10 April 2012.
This investigation commenced in 2012 at the request of SBM Offshore into alleged
payments involving sales intermediaries in certain African countries in the
period 2007 through 2011, in order to determine whether these alleged payments
violated anti-corruption laws. These alleged payments came to the attention of
the management board after a review of SBM Offshore's compliance procedures in
late 2011. In the course of the investigation allegations were made of improper
payments in countries outside Africa but to date no conclusive proof of such
allegations has been established. The investigation is being carried out by
outside legal counsel and forensic accountants, with the support of the chief
Governance and Compliance officer and under the oversight of the audit
committee. The investigation is expected to be completed in 2013.
As the investigation is not yet concluded, SBM Offshore cannot make any
definitive statements regarding the findings of the investigation. The initial
feedback received to date is that there are indications that substantial
payments were made, mostly through intermediaries, which appear to have been
intended for government officials. Also, SBM Offshore's new Management Board,
which was appointed in the course of 2012, has found it necessary and
appropriate to increase awareness of proper compliance throughout the Group up
to the highest management levels.
The Company voluntarily disclosed the investigation to the Dutch Public
Prosecution Service (Openbaar Ministerie) and the United States Department of
Justice in 2012. The Company will update the authorities on this initial
feedback from the investigation shortly. At this stage it is not possible to
state anything on the outcome of the investigations, financial or otherwise.
The Board of Management
Schiedam, 28 March 2013
For further information, please contact:
Investor Relations
Sebastiaan de Ronde Bresser
Investor Relations Officer
Telephone: (+377) 92 05 85 15
Mobile: (+33) 643 919 312
E-mail: sebastiaan.derondebresser(at)sbmoffshore.com
Website: www.sbmoffshore.com
Media Relations
Anne Guerin-Moens
Group Communications Director
Telephone: (+377) 92 05 30 83
Mobile: (+377) 680 863 691
E-mail: anne.guerin-moens(at)sbmoffshore.com
Website: www.sbmoffshore.com
To see the complete version of this press release, please click on the link
below.
SBM Offshore Press Release:
http://hugin.info/130754/R/1688774/554139.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SBM Offshore N.V. via Thomson Reuters ONE
[HUG#1688774]
Unternehmensinformation / Kurzprofil:
Datum: 28.03.2013 - 07:30 Uhr
Sprache: Deutsch
News-ID 243901
Anzahl Zeichen: 3964
contact information:
Town:
Schiedam
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"SBM OFFSHORE UPDATE ON INTERNAL INVESTIGATION"
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SBM Offshore N.V. (Nachricht senden)
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