27th Jul 2007 12:48
DCC PLC27 July 2007 IRISH SUPREME COURT JUDGMENT DCC plc ("DCC") announces that in a judgment delivered this morning the IrishSupreme Court allowed the appeal by Fyffes plc ("Fyffes") against the decisionof the Irish High Court delivered on 21 December 2005. That decision found infavour of DCC, two of its subsidiaries, S&L Investments Limited and Lotus GreenLimited ("Lotus Green"), and its Chief Executive, Jim Flavin, in the case takenagainst them by Fyffes under Part V of the Irish Companies Act, 1990, seeking anaccount of profits arising on the sale of 31,169,493 shares in Fyffes inFebruary 2000 by Lotus Green, DCC's Dutch managed and controlled subsidiary. The Supreme Court will list the matter for further directions in October 2007.DCC expects the amount of its resulting liability will be assessed subsequentlyby the High Court. DCC believes that its liability to Fyffes resulting from thisjudgment will not exceed the difference between the price at which the relevantshares were sold and the price which those shares would have realised had therelevant information been generally known. For the purpose of guidance to the market, DCC does not expect that itsaggregate liability, inclusive of legal costs, will exceed €50 million. For Reference: Jim MiltonMurray ConsultantsTel: +353 1 498 0300 +353 86 255 8400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DCCFFY.L