Leighton Holdings accepts infringement notices

Leighton Holdings said that without admitting liability, it accepts the notices issued by the Australian Securities and Investments Commission related to the earnings downgrade issued in April 2011. It will pay AUD 300,000 USD 315,450.

Leighton Holdings chairman Stephen Johns said, “We take our continuous disclosure obligations very seriously and have undertaken to ASIC to implement an independent review of our systems.

“We recognise that continuous disclosure is extremely important for the efficient operation of the market and will use the review as part of our program to improve the systems that support our business. We will commence the review as soon as practical.

“The infringement notices allow Leighton to move on from the events surrounding the earnings downgrade last year. This enables the management team, led by [CEO] Hamish Tyrwhitt, to focus on the operations of the business. They are not an admission of liability nor a finding of any breach of law.”