REG - Galliford Try Hldgs - Settlement Agreed and Special Dividend

Galliford Try HoldingsAnnouncement

08/06/2023 07:00

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RNS Number : 0095C  Galliford Try Holdings PLC  08 June 2023

 

 

GALLIFORD TRY HOLDINGS PLC

THURSDAY 08 JUNE 2023

 

 

Settlement agreed with major infrastructure fund and announcement of Special
Dividend

 

 

Galliford Try Holdings plc, the UK construction group, today announces that it
has agreed settlement terms in respect of its long-standing dispute concerning
three contracts with entities owned by a major infrastructure fund.  The
settlement brings to a conclusion a complex and challenging multi-contract
dispute. As a result of the settlement Galliford Try will receive a cash
payment of £26m and anticipates reporting a one-off non-cash write-off of
c£3m in the current financial year.

 

Given the Group's strong balance sheet, and consistent with its established
capital allocation objectives, the Group intends to return to shareholders a
substantial proportion of the proceeds over time while retaining an element of
the proceeds to invest in its growth strategy. Accordingly, the Board has
decided to declare a Special Dividend of 12 pence per share, payable following
publication of the Group's results for the financial year ending 30 June 2023.
The form and amount of any additional return will be considered by the Board
in due course. The Special Dividend will be paid on 27 October 2023 to
shareholders on the register as at 6 October 2023. The ex-dividend date is 5
October 2023.

 

The person responsible for making this announcement on behalf of Galliford Try
is Kevin Corbett, General Counsel & Company Secretary. This announcement
contains inside information.

 

 

 

For further enquiries please contact:

 

 Galliford Try  Bill Hocking, Chief Executive                            01895 855001

                Andrew Duxbury, Finance Director

                Kevin Corbett, General Counsel & Company Secretary

 

 

Note to Editors

 

Galliford Try is a leading UK construction group listed on the London Stock
Exchange.  Operating as Galliford Try and Morrison Construction, the Group
carries out building and infrastructure projects with clients in the public,
private and regulated sectors across the UK.

 

 

 

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