26 Jan 2011 11:12
JJB Sports plc
26 January 2011
Publication of notice by the FSA
Further to the announcement of 29th October 2010, JJB Sports plc (the "Company") today notes the publication of a notice by the Financial Services Authority ("FSA") following an investigation into the Company's historic compliance with the Disclosure and Transparency Rules. The investigation covered the period in the lead up to the release of the Group's interim results on 26 September 2008, more than two years ago when the Company was under an entirely different management team and prior to the Company's restructuring.
As previously announced, the FSA has imposed on the Company a penalty of £455,000. This will be payable in six monthly instalments following the date of this announcement.
The investigation and resulting fine relate to inadequacies in the disclosures made by the Company, at the time under the old management team led by Chris Ronnie, former CEO, surrounding the acquisitions of the Original Shoe Company and Qube.
No further investigations into the Company by the FSA are ongoing, and the Company welcomes the finality brought by the conclusion of this investigation. The publication of today's notice by the FSA brings the matter to a close.
Contact:
JJB | 01942 221400 |
Richard Manning | |
Maitland Neil Bennett Richard Farnsworth | 020 7379 5151 |