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G4S Plc Announces Update on Electronic Monitoring Contracts


Tuesday, 19 Nov 2013 05:40am EST 

G4S Plc announced the following update in relation to billings made for electronic monitoring (EM) services provided by G4S Care & Justice Services (UK) Ltd (G4SCJS) in England and Wales between 2005 and 2013. In June 2013, G4S Plc engaged law firm Linklaters LLP, to perform an independent review into the conduct of G4S Plc employees in relation to billing under the EM contract and to assess whether there was any evidence of dishonesty or criminal conduct. Linklaters has conducted a search and review of emails and numerous interviews with relevant employees and has not identified any evidence of dishonesty or criminal conduct by any employee of G4S Plc in relation to the billing arrangements under the EM contracts. The review has confirmed that, in certain circumstances, G4SCJS wrongly considered itself to be contractually entitled to bill for monitoring services when equipment had not been fitted or after it had been removed. The Company has apologized to the Ministry of Justice (the Ministry) and issued credit notes totaling GBP 23.3 million for amounts incorrectly billed between 2005 and May 2013. A further credit note of GBP 0.8 million will be issued for billings for the period from June 2013 to date. In addition, G4S has incurred external investigation costs of around GBP 2 million. The Ministry is conducting an audit in relation to EM billings and the Company's assessment of these matters and the credit notes may not agree with the Ministry's audit findings. 

Company Quote

254.6
4.7 +1.88%
21 Oct 2014