REG - Van Elle HoldingsPLC - Settlement of Legacy Contract Dispute

Van Elle HoldingsAnnouncement

06/06/2024 07:00

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RNS Number : 2541R  Van Elle Holdings PLC  06 June 2024

 

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                                   Via Walbrook

 Mark Cutler, Chief Executive Officer

 Graeme Campbell, Chief Financial Officer

 Peel Hunt LLP (Nominated Adviser and corporate broker)  Tel: 020 7418 8900

 Ed Allsopp

 Charlotte Sutcliffe

 Ben Harrington

 Walbrook PR Limited                                     Tel: 020 7933 8780

                                                         or vanelle@walbrookpr.com
 Tom Cooper                                              07971 221 972 or 07748 325 236

 Nick Rome

 

 

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.

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