DCC PLC
14 April 2008
Settlement of Fyffes Action
DCC plc announces that it has concluded an agreement with Fyffes plc and
counterparties to settle the legal actions taken by them against DCC and others
under Part V of the Companies Act, 1990 ('the Act') and these actions have now
been struck out by the High Court.
The total amount payable by the DCC Group to Fyffes and the counterparties in
full and final settlement of all claims, interest and costs is €41 million. This
settlement is in line with the estimate made by DCC when it made an exceptional
charge of €50 million for these claims and DCC's own costs in its last interim
accounts for the six months ended 30 September 2007.
DCC expects to report net exceptional gains for the year to 31 March 2008 of
approximately €36 million after providing for the Fyffes exceptional charge.
For Reference:
Jim Milton
Murray Consultants
Tel: +353 86 255 8400
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