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Augean settles customer dispute

By BFN News | 01:22 PM | Wednesday 13 July, 2016


Augean has settled a commercial dispute with a customer - outlined in the preliminary results on 22 March - without a legal claim being made. The detailed terms of which are subject to a confidentiality agreement. The total cost of the settlement, including amounts paid to the customer, adviser fees and other related costs, is approximately £1.1 million and will be treated as an exceptional item in the income statement of the group. A cash outflow of £1.0 million occurs during 2016 and £0.1 million of cash outflow will occur in the first half of 2017, in respect of this settlement. At 1:22pm: (LON:AUG) Augean PLC share price was 0p at 46.75p Story provided by StockMarketWire.com

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