Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Weir Group PLC (WEIR)

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Monday 13 December, 2010

Weir Group PLC

Update re Oil-for-Food

RNS Number : 8088X
Weir Group PLC
13 December 2010

The Weir Group PLC


Oil for Food


Further to the announcement made by The Weir Group PLC ("Weir" or the "Company") on 22nd July, 2004 and the disclosures subsequently made in the Company's annual reports and accounts, Weir today announces that it has agreed with the Crown Office in Scotland to plead guilty to two charges of breaching UN sanctions in connection with a number of UN sanctioned Oil for Food programme contracts awarded between 2000 and 2002. 


Weir is to be formally charged with these offences later today and it is expected that the case will be heard at the High Court in Edinburgh on 14 December, 2010 following which sentence will be passed.


Following the guilty plea, the Company will be subject to a confiscation order in respect of its benefit from the offences. Subject to the Court's approval, the Company has agreed the amount of this confiscation order with the Crown at £13,945,962.   In addition the Company will be liable to a fine, the amount of which will be decided by the Court following the hearing.


A further announcement will be made after the court hearing.


Lord Smith, Chairman of Weir, commented: "What happened was wrong. As I said in 2004, I am bitterly disappointed that this went on within the Weir Group. Since 2004, when we first disclosed the issue, we have radically overhauled procedures. A strong ethics culture is in place across the Group and it is the reference point for everything we do."





The Weir Group PLC                   

0141 308 3726

Helen Walker 





020 7379 5151

Suzanne Bartch


Rowan Brown





Notes to editors




In 2004 Weir discovered that during the course of 2000, at the request of certain Iraqi customers, trading terms were amended. As a result the prices payable on subsequent Oil for Food contracts were uplifted by £3.1 million. The Group did not retain such uplift payments as equivalent sums were paid to an agent acting on behalf of the Group subsidiaries.


The contracts related to the supply of pump equipment and spare parts for clean water supply and oil field water injection and pipelines.


Immediately Weir became aware of an issue it took immediate action: it commissioned an internal investigation and an external investigation of all contracts undertaken under the Oil-for-Food programme and made a public announcement. The external investigation was undertaken by independent legal advisers, Herbert Smith. The findings from the investigation are summarised above.


Following the investigations, the Group reviewed its procedures and took comprehensive steps to improve its controls and processes. It regularly monitors compliance. Weir now has in place a strong ethics culture across the business.





This information is provided by RNS
The company news service from the London Stock Exchange