Bytes Settles With Former CEO on Undisclosed Share Transactions

Bytes Technology says former CEO Neil Murphy has agreed to forfeit his entitlements under the firm’s performance share plan and deferred bonus in entirety, according to a statement.

• Murphy will also repay his after-tax bonuses since IPO to the company, through its clawback provisions
• An investigation overseen by a committee of the board, with advice from PwC and Travers Smith, has found no evidence that Murphy’s share dealing involved “any other parties”
• NOTE: Bytes Technology to Investigate Former CEO Murphy Resignation

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