For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230605:nRSE6950Ba&default-theme=true
RNS Number : 6950B Anexo Group PLC 05 June 2023
5 June 2023
Anexo Group plc
('Anexo' or the 'Company')
Settlement with Volkswagen AG
Anexo can announce that the Group has reached an agreement with Volkswagen AG
("VW") and its subsidiaries to conclude the claims of around 12,000 claimants
represented by the Group (the "VW Emissions case"). The VW Emissions case was
handled by a specialist team within the Group's legal services division, Bond
Turner.
This agreement avoids the need for protracted litigation and the substantial
legal costs that would have been incurred by both parties had the matter
progressed to trial.
The terms of the agreement are subject to confidentiality restrictions,
however the Group can announce that it will have a net positive cash position
to Anexo of £7.175 million.
Given the timing of the agreement, it will not have an impact on the results
for the year ended 31 December 2022.
For further enquiries:
Anexo Group plc +44 (0) 151 227 3008
www.anexo-group.com (http://www.anexo-group.com)
Alan Sellers, Executive Chairman
Gary Carrington, Interim Chief Financial Officer
Nick Dashwood Brown, Head of Investor Relations
WH Ireland Limited
(Nominated Adviser & Joint Broker)
Chris Hardie / Hugh Morgan/ Darshan Patel / Enzo Aliaj (Corporate) +44 (0) 20 7220 1666
Fraser Marshall / Harry Ansell (Broking) www.whirelandplc.com/capital-markets
(https://url.avanan.click/v2/___https:/eu-west
-1.protection.sophos.com?d=whirelandplc.com&u=aHR0cDovL3d3dy53aGlyZWxhbmRwbGMuY29tL2NhcGl0YWwtbWFya2V0cw==&i=NWNkOTc2NmM5OWJhMjAxMDhmN2IyYzQ1&t=SXVCMnArbXpCUWFUR3hiN0dhVjR5Q3d4VDNrTGVJc1JZVXNxWVRpbE8zcz0=&h=0482e68813aa4f569a47aab5cdad04d1___.YXAxZTp3aGlyZWxhbmRwbGMyOmE6bzpjYjY3ZDZhNTE1ZmUwZTA0Zjg3MDFkYTJhYTAxZGMyNDo2OmU0NjA6M2ViNTgwYzkxMmM5NTFlMzUyMzM1ODhlNzcyOGFhMjZhNjI0OTkzOGRkOTkzZjQ5NTUzNjFjYzE5N2UwYTBkNzpoOlQ)
Zeus
(Joint Broker) +44 (0) 20 3829 5000
David Foreman / Louisa Waddell (Investment Banking) w (http://www.arden-partners.co.uk) ww.zeuscapital.co.uk
(http://www.arden-partners.co.uk)
Simon Johnson (Corporate Broking)
Notes to Editors:
Anexo is a specialist integrated credit hire and legal services provider. The
Group has created a unique business model by combining a direct capture Credit
Hire business with a wholly owned Legal Services firm. The integrated business
targets the impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.
Through its dedicated Credit Hire sales team and network of 1,100 plus active
introducers around the UK, Anexo provides customers with an end-to-end service
including the provision of Credit Hire vehicles, assistance with repair and
recovery, and claims management services. The Group's Legal Services division,
Bond Turner, provides the legal support to maximise the recovery of costs
through settlement or court action as well as the processing of any associated
personal injury claim.
The Group was admitted to trading on AIM in June 2018 with the ticker ANX. For
additional information please visit: www.anexo-group.com
(http://www.anexo-group.com/)
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END UPDFLFFSRIIEIIV