Cobham Regulatory News (COB)

17 January 2018

Cobham plc

Statement re BBC Radio 4 Programme

Cobham plc notes the contents of BBC Radio 4's File on Four programme broadcast yesterday evening, 16 January 2018, regarding the purchase of fake degrees. Cobham's Board became aware during 2017 of the purchase of such degrees for a small number of employees in the legacy FB Heliservices business unit (now Cobham Helicopter Services), that occurred between 2013 and 2014.

David Lockwood, Cobham CEO said: "I instigated an immediate investigation by a leading law firm as soon as I was made aware of this issue. The investigation was conducted over a three month period and completed in June 2017. It concluded that the issue was historic and related to the tax status of a small number of employees based in Curacao, was entirely unrelated to the performance of their roles, and had no impact upon the safety of any of its operations or the training of any individuals in the United Kingdom or elsewhere. Procedural and disciplinary actions have been taken to address the issues raised and the matter is now closed."

Cobham Helicopter Services aircrew and engineers are highly trained professionals who hold the required licenses and qualifications to fulfil their roles, and these are routinely and independently audited.

David Lockwood, Cobham CEO said: "When I joined Cobham, I stated that my focus would be on better control and execution, improved customer relationships, and strong and visible leadership. I also stated that we would build a sense of momentum and clear purpose among Cobham's management and employees, whilst improving accountability. Robustly dealing with legacy matters such as the purchase of these degrees is central to changing Cobham's culture and improving its performance."

About Cobham

Cobham is a leading global technology and services innovator, respected for providing solutions to the most challenging problems, from deep space to the depths of the ocean.

We employ around 11,000 people on five continents, and have customers and partners in over 100 countries, with market leading positions in: wireless, audio, video and data communications, including satellite communications; defence electronics; air-to-air refuelling; aviation services; life support and mission equipment.

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