Jardine Lloyd Thompson Group PLC Litigation Settlement (7012U)
April 08 2016 - 11:59AM
UK Regulatory
TIDMJLT
RNS Number : 7012U
Jardine Lloyd Thompson Group PLC
08 April 2016
RNS
Litigation Settlement
Jardine Lloyd Thompson Group plc ('JLT' or 'the Group') has
reached a settlement and concluded litigation with Willis regarding
certain employment related disputes involving the Fine Arts,
Jewellery, and Specie team hired by JLT in 2015.
A provision of approximately GBP22 million will be charged as
part of second quarter results as a consequence of the settlement,
relating to the settlement itself and associated costs, and is
incremental to any previously raised litigation provisions. This
charge will be treated as an exceptional item and included in net
litigation costs, as it is unrelated to the underlying business and
trading performance of the Group.
Terms of the settlement are final and confidential and the
matter is now closed.
8th April 2016
Further Enquires:
Jardine Lloyd Thompson Group plc
Paul Dransfield - Corporate Communications 020 7528 4933
Brunswick Group LLP
Tom Burns/Dania Saidam 020 7404 5959
This announcement may contain "forward looking statements"
regarding the financial position, business strategy or plans for
future operations of the Group. By their nature, forward looking
statements involve risk and uncertainty, relating to facts that are
beyond the company's ability to control, such as future market
conditions. Any such statements in this announcement speak only as
at the date of this announcement. The company does not assume any
obligation to, and does not intend to, revise or update these
forward looking statements except as required pursuant to
applicable law.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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