Settlement of Legacy Contract Dispute

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 Mark Cutler, Chief Executive Officer Graeme Campbell, Chief Financial Officer	Via Walbrook
Peel Hunt LLP (Nominated Adviser and corporate broker) Ed Allsopp Charlotte Sutcliffe Ben Harrington	Tel: [phone]
Walbrook PR Limited	Tel: [phone] or [e-mail]
Tom Cooper Nick Rome	07971 221 972 or 07748 325 236

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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