29th Dec 2021 08:49
(Alliance News) - Northern Bear PLC on Wednesday said its subsidiary, Springs Roofing Ltd, has been served a notice of formal court proceedings regarding a claim by Engie Regeneration FHM Ltd for GBP1.9 million.
Shares in the Newcastle-based building services firm were 9.0% lower at 60.50 pence on Wednesday in London.
In the company's annual report for the year ended March 31, Northern Bear said that Springs Roofing had received correspondence regarding a claim of up to GBP2 million on a roofing contract carried out from April 2009 to March 2011 for Engie Regeneration.
Spring Roofing said it intends to defend the claim vigorously and are currently reviewing the claim documents alongside legal advisers.
By Dayo Laniyan; [email protected]
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