Manjeet Mohal and Reshim Birk have pleaded guilty to three counts of insider dealing as part of an insider dealing trial brought by the FCA in relation to the purchase of shares in advance of a takeover announcement. They will be sentenced on 13 January 2017.

No evidence was put forward to prosecute a third individual, Ryan Willmott.

Kenneth Carver faced enforcement action as part of the same investigation.

Manjeet Mohal was a trusted member of the financial reporting team at Logica. Mr Mohal obtained inside information of the proposed takeover of Logica by CGI Holdings (Europe) in May 2012 and improperly disclosed that information to his neighbour, Reshim Birk. Mr Birk purchased shares and options in Logica before the takeover announcement and made a profit of over £100,000.

A copy of the FCA press release is available.