Mears Regulatory News (MER)

6 Jul 2007 15:58

Mears Group PLC06 July 2007 6 July 2007 Mears Group PLC ("Mears" or the "Company") Hackney and Islington Contract - BBC Report Certain allegations have been made in a BBC 5 Live report regarding theCompany's conduct relating to works carried out for the Family Mosaic HousingAssociation in Hackney and Islington ("Family Mosaic"). The Company is taking the allegations seriously. Its own initial investigationson the matter have shown there to be no substance to the claims made but Mearswelcomes an independent investigation by The Housing Corporation, the sector'sregulator. Mears expects this to be completed in the next few weeks and theBoard is confident of a satisfactory outcome. Mears conducts over 20,000 jobs per annum on behalf of Family Mosaic, a contractwhich began in October 2004. Family Mosaic independently measures Mears'performance and these measures support Mears' own information showing around 90%customer satisfaction levels, significantly exceeding sector norms.Mears' processes for managing jobs through to post inspection are fully auditedboth internally and externally. Enquiries Mears Group PLCBob Holt, Chief Executive 07778 798816David Robertson, Finance Director 07887 705357 Weber Shandwick FinancialTrevor Bass/Alex White 020 7067 0743 Nominated adviser to MearsInvestecMichael Ansell 020 7597 5970Daniel Adams This information is provided by RNS The company news service from the London Stock Exchange