For Immediate Release 28 November 2008
Wincanton Plc
Uniq Contract Dispute Update
Wincanton plc ("Wincanton"), the leading European supply chain solutions
provider, notes the announcement made by Uniq plc ("Uniq") on 26th November in
respect of its contract dispute with Wincanton.
Further to the update provided in Wincanton's half year results released on 6th
November, we are now able to confirm that the Court of Appeal has dismissed
Uniq's appeal against the earlier judgment of the Commercial Court in favour of
Wincanton.
The next stage of the contract dispute mechanism is for an independent
accountant to assess the sum payable under the contract for the periods in
dispute. We do not expect that this will result in any significant difference
to the amounts currently due or expected to fall due and owed by Uniq to
Wincanton. In the meanwhile, Wincanton is seeking an interim cash payment
through the Courts and application is to be heard in the Commercial Court on
23rd January 2009.
Wincanton continues to pursue the dispute resolution process vigorously. We
remain highly confident of being awarded payment of all monies due under the
contract and note the confidence expressed by the Directors of Uniq that they
will be able to meet their obligations to Wincanton in full.
For further information please contact:
Wincanton plc
Graeme McFaull, Chief Executive 01249 710 000
Gerard Connell, Group Finance Director
Buchanan Communications
Charles Ryland / Jeremy Garcia 020 7466 5000
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