REG-Keller Group PLC: Doc re exceptional charge <Origin Href="QuoteRef">KLR.L</Origin>

KellerAnnouncement

11/02/2015 13:50

For immediate release 11 February 2015

                          Keller Group plc ("Keller")                          

Keller announced in July 2014 that an exceptional charge of £30 million was to
be taken as at the 2014 half year in respect of a dispute arising on a project
that Keller Limited, Keller's UK subsidiary, completed in 2008. Keller today
announces that it has reached an agreement to settle with the other parties
involved in the litigation.

The final cost to Keller is dependent on a number of remedial actions to be
undertaken as part of the settlement agreement but is not expected to exceed £
60 million, before taking account of any yet to be agreed insurance recoveries.
The full terms of the settlement agreement are confidential between the
parties.

As a result, it is expected that Keller will make a further exceptional charge
of between £20 and £30 million in its 2014 full year results. This amount is
stated before taking account of future recoveries under applicable insurances
which are yet to be agreed, as these cannot be recognised under IFRS.

Keller will announce its full year results on Monday 2 March 2015.

For further information, please contact:

Keller Group plc                                                               
Justin Atkinson, Chief Executive            020 7616 7575                      
James Hind, Finance Director                                                   
                                                                               
Finsbury                                                                       
Gordon Simpson/Rowley Hudson                020 7251 3801        
              

Notes to Editors:

Keller is the world's largest independent ground engineering specialist,
providing technically advanced and cost-effective foundation solutions to the
construction industry. With annual revenue of around £1.6bn, Keller has
approximately 9,000 staff world-wide.

Keller is the clear market leader in North America and Australia; it has prime
positions in most established European markets; and a strong profile in many
developing markets.



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