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Brewin Dolphin Hldgs (BRW)

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Friday 29 August, 2014

Brewin Dolphin Hldgs

Update on technology settlement

RNS Number : 4303Q
Brewin Dolphin Holdings PLC
29 August 2014
 



29 August 2014

 

 

Brewin Dolphin Holdings PLC
("Brewin Dolphin")

 

Update on technology settlement

 

Further to the announcement made on 13 May 2014 regarding the decision to terminate the roll-out of a new IT system into the discretionary wealth business, negotiations have now concluded in relation to the outstanding contractual obligations regarding potential future payments of £15 million over the next 10 years.  All parties have agreed to a full and final settlement in respect of these outstanding obligations and, accordingly, Brewin Dolphin will incur a one off £2 million exceptional charge in H2 2014.

 

 

For further information please contact: 

 

Andrew Westenberger

Finance Director

0845 213 1000

 

Matthew Sims

Director of Investor Relations

0845 213 1000

 

Andrew Hayes/Wendy Baker

Hudson Sandler

020 7796 4133

 


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