DCC PLC
21 December 2005
IRISH HIGH COURT FINDS IN DCC's FAVOUR
DCC plc ('DCC') welcomes the judgment by the Irish High Court today in favour of
DCC, two of its subsidiaries, S&L Investments Limited and Lotus Green Limited
('Lotus Green'), and its Chief Executive, Jim Flavin, in the case taken against
them by Fyffes plc ('Fyffes') under Part V of the Irish Companies Act, 1990
('the Act'), seeking an account of profits arising on the sale of 31,169,493
shares in Fyffes in February 2000 by Lotus Green, DCC's Dutch managed and
controlled subsidiary.
In dismissing Fyffes' claim against all of the defendants the Court held that
the share sales were entirely lawful and that none of the defendants has any
liability arising from the sales of the shares in Fyffes in February 2000.
When legal proceedings were first initiated by Fyffes on 24 January 2002 the
Board of DCC made a Stock Exchange announcement expressing its clear view that
Fyffes' claim was wholly unjustified, totally inconsistent with Fyffes' own
actions at the time and utterly without merit and that the sale of shares in
Fyffes plc in February 2000 by Lotus Green was undertaken with absolute
propriety. The Board of DCC believes that today's judgment vindicates that view.
For Reference:
Jim Milton
Murray Consultants
Tel.: +353 1 498 0300
+353 86 255 8400
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.