Augean Plc Settlement of dispute (0968E)
July 13 2016 - 7:08AM
UK Regulatory
TIDMAUG
RNS Number : 0968E
Augean Plc
13 July 2016
13 July 2016
Augean plc
("Augean" or "the Group")
Settlement of dispute
In its preliminary results announcement on 22 March 2016, the
Group indicated it was involved in a commercial dispute with a
customer, which arose in the ordinary course of business, and the
customer had indicated its intention to bring a claim against the
Group in relation to that matter.
The Group has now settled the matter, without a legal claim
being made, the detailed terms of which are subject to a
confidentiality agreement. The total cost of the settlement,
including amounts paid to the customer, adviser fees and other
related costs, is approximately GBP1.1 million and will be treated
as an exceptional item in the income statement of the Group. A cash
outflow of GBP1.0 million occurs during 2016 and GBP0.1 million of
cash outflow will occur in the first half of 2017, in respect of
this settlement.
-Ends-
For further information, call:
Augean plc
Dr Stewart Davies, Chief
Executive
Richard Laker, Group Finance
Director 01937 844 980
N+1 Singer
Shaun Dobson
Richard Lindley
Jennifer Boorer 020 7496 3000
FTI Consulting
Oliver Winters
Adam Cubbage 020 3727 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUORURNNABAAR
(END) Dow Jones Newswires
July 13, 2016 08:08 ET (12:08 GMT)
Augean (LSE:AUG)
Historical Stock Chart
From Apr 2024 to May 2024
Augean (LSE:AUG)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Augean Plc (London Stock Exchange): 0 recent articles
More Augean News Articles