The FSCA announced today that it found no evidence that the share trades completed on NEPI Rockcastle by alleged related parties’ accounts contravened the Financial Markets Act relating to price manipulation. The FSCA has also announced that it has closed the investigation into the matter, which means there are no further unresolved investigations by the FSCA into the company.

The FSCA found that there was no substance in the allegations made that directors, related parties and other parties believed to be related to NEPI Rockcastle and other entities, were supporting the NEPI Rockcastle share price during the investigation period (1 October 2017 to 28 February 2018).

Alex Morar, NEPI Rockcastle CEO commented:

“We welcome the FSCA’s announcement and the conclusion of this remaining investigation. Although this was not an investigation into the Company’s affairs (as the Company hadn’t traded in its own shares), its closure reconfirms our position towards this matter. NEPI Rockcastle adheres to best practice in corporate governance. The conclusion of this matter allows us to continue to focus on our core business and generating long-term value for all our stakeholders.” – Alex Morar, CEO