MAAS Group Confirms Employees Involved in ICAC Probe No Longer with the Company; Shares Fall 7%

MT Newswires Live

2025/07/25

MAAS Group (ASX:MGH) confirmed that the people involved in the Independent Commission Against Corruption (ICAC) probe, which is also looking into alleged activities of the Capital Asphalt business, are no longer employed in the company, according to a Friday filing with the Australian bourse.

The ICAC inquiry, Operation Wyvern, is investigating whether certain Transport for New South Wales employees awarded contracts to specific companies in exchange for benefits, the filing said.

The allegations took place before the company acquired an indirect 75% interest in Capital Asphalt in 2024, according to the filing.

Shares fell 7% in morning trade on Friday.

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