Vestas Wind Systems A/S
Decision regarding criminal charges against former Chief Financial Officer
Vestas Wind Systems A/S 24.06.2015 09:37 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Aarhus, Denmark, 2015-06-24 09:37 CEST (GLOBE NEWSWIRE) -- The Danish State Prosecutor for Serious Economic and International Crime (the Fraud Squad) has informed Vestas that it will not pursue criminal charges against former Vestas CFO Henrik Nørremark in the matter relating to financial transactions with a former Indian cooperation partner, ref. company announcements No. 36/2012 of 2 October 2012 and No. 22/2013 of 24 May 2013. The Fraud Squad has said it has not been able to identify sufficiently compelling evidence to lead to a conviction, c.f. the Danish Procedural Act §721, article 1 no. 2. Vestas and the company's external advisors completed several comprehensive investigations of the case without being able to conclude what the money in question had been spent on or why the transactions had been made. To determine if criminal violations had taken place, Vestas referred the case to the Fraud Squad for further investigation. As was the case for Vestas, the Fraud Squad has been unable to determine what happened to the money after it was transferred to India. Despite the decision regarding criminal charges, Vestas continues to believe that by entering into these agreements, the former CFO significantly exceeded his powers as Group Executive. As such, the civil cases between Vestas and the former CFO in the Aarhus and Indian courts will remain unaffected. Contact details Vestas Wind Systems A/S, Denmark Michael Zarin, Head of External Communications & Media Relations Tel: +45 4084 1526 Email: mizar@vestas.com Hans Martin Smith, Senior Vice President, Investor Relations Tel: +45 9730 8209 Email: hamsm@vestas.com News Source: NASDAQ OMX 24.06.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Vestas Wind Systems A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010268606 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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