t
Van Elle Holdings plc announced on 06 June 2024 that a long-standing legacy contract dispute has been resolved and settled. The settlement was achieved within the Group's insured limits of cover, consistent with its 31 March 2021 announcement that the financial impact would be limited to the excess payment under its insurance policy.
| Date | 6 Jun 2024 |
| Time | 07:00:04 |
| Category | Miscellaneous |
| ID | 2541R |
Van Elle Holdings plc
('Van Elle', the 'Company' or the 'Group')
Settlement of Legacy Contract Dispute
Van Elle Holdings plc, the UK's largest ground engineering contractor, provides an update on a long-standing dispute.
On 31 March 2021, the Group announced that, based on professional advice, the Board considered it probable that any potential financial impact would be limited to the excess payment pursuant to the terms of the Group's insurance policy, which had been provided for in previous years.
The Group is pleased to announce that the matter has now been resolved and settled within the Group's insured limits of cover.
For further information, please contact:
|
Van Elle Holdings plc Mark Cutler, Chief Executive Officer Graeme Campbell, Chief Financial Officer |
Via Walbrook |
|
|
|
|
Peel Hunt LLP (Nominated Adviser and corporate broker) Ed Allsopp Charlotte Sutcliffe Ben Harrington |
Tel: 020 7418 8900 |
|
|
|
|
Walbrook PR Limited |
Tel: 020 7933 8780 |
|
Tom Cooper Nick Rome |
07971 221 972 or 07748 325 236 |
About Van Elle Holdings plc:
Van Elle Holdings is the UK's largest specialist geotechnical engineering contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a wide range of ground engineering techniques and services including ground investigation, general and specialist piling, rail geotechnical engineering, modular foundations, and ground improvement and stabilisation services.
Van Elle operates through three divisions: General Piling, Specialist Piling and Rail, and Ground Engineering Services; and is focused on diverse end markets including residential and housing, infrastructure and regional construction - across which the Group has completed more than 20,000 projects over the last 40 years. The Company acquired ScrewFast Foundations Limited in April 2021 and Rock & Alluvium Limited in November 2023.