Intueri pleads guilty to one charge over diving school death
The company will be sentenced on February 15, 2016.
Intueri Education Group [NZX: IQE], New Zealand's largest private training institution, has cut a deal with Worksafe New Zealand, pleading guilty to one charge over a student death at its diving school last year, with four remaining charges dropped.
The Auckland-based company will be sentenced on February 15, 2016, after reaching an agreement with the government agency over the Health and Safety in Employment Act prosecution, it said in a statement. Intueri held a provision of $175,000 against the case as at June 30 and had recognised provisioning expenses of some $400,000 in the 2014 calendar year.
"We take health and safety very seriously and have cooperated completely with Worksafe throughout their investigation," chief executive Rob Facer said. "We are constantly reviewing our policies and procedures and continue to take steps to ensure we protect the safety of all our staff and students."
Intueri had to amend its prospectus in May last year after the incident, which occurred during its initial public offering. The company considered the possibility of any improvement notice, prohibition notice, or prosecution "very unlikely," according to the amended offer document, with the most adverse scenario that the diving school's reputation could be "materially adversely affected which could reduce student demand."
The shares are unchanged at $1.45.
(BusinessDesk)
Paul McBeth
Fri, 20 Nov 2015
Fri, 20 Nov 2015
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Intueri pleads guilty to one charge over diving school death
53645