14th Apr 2008 10:56
DCC PLC14 April 2008 Settlement of Fyffes Action DCC plc announces that it has concluded an agreement with Fyffes plc andcounterparties to settle the legal actions taken by them against DCC and othersunder Part V of the Companies Act, 1990 ("the Act") and these actions have nowbeen struck out by the High Court. The total amount payable by the DCC Group to Fyffes and the counterparties infull and final settlement of all claims, interest and costs is €41 million. Thissettlement is in line with the estimate made by DCC when it made an exceptionalcharge of €50 million for these claims and DCC's own costs in its last interimaccounts for the six months ended 30 September 2007. DCC expects to report net exceptional gains for the year to 31 March 2008 ofapproximately €36 million after providing for the Fyffes exceptional charge. For Reference: Jim Milton Murray Consultants Tel: +353 86 255 8400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DCCFFY.L