Business
Settlement of Fyffes Action
Settlement of Fyffes Action.
About this update from Dcc Plc
[{"type":"text","content":"\n DCC PLC\n14 April 2008\n\n\n \n Settlement of Fyffes Action\n\n\nDCC plc announces that it has concluded an agreement with Fyffes plc and\ncounterparties to settle the legal actions taken by them against DCC and others\nunder Part V of the Companies Act, 1990 ('the Act') and these actions have now\nbeen struck out by the High Court.\n\n\nThe total amount payable by the DCC Group to Fyffes and the counterparties in\nfull and final settlement of all claims, interest and costs is €41 million. This\nsettlement is in line with the estimate made by DCC when it made an exceptional\ncharge of €50 million for these claims and DCC's own costs in its last interim\naccounts for the six months ended 30 September 2007.\n\n\nDCC expects to report net exceptional gains for the year to 31 March 2008 of\napproximately €36 million after providing for the Fyffes exceptional charge.\n\n\nFor Reference:\n\nJim Milton\n\nMurray Consultants\n\nTel: +353 86 255 8400\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1293,"tagName":"div"}]