REG - Persimmon Plc - UK Government Self Remediation Contract Signed

PersimmonAnnouncement

13/03/2023 12:30

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RNS Number : 7796S  Persimmon PLC  13 March 2023

13 March 2023

Persimmon plc

 

("Persimmon" or "the Group")

 

 Persimmon Signs UK Government Self Remediation Contract

 

Persimmon announces that it has signed the Self Remediation Contract,
originally published by the Department for Levelling Up, Housing and
Communities ("DLUHC") on 30(th) January 2023. The Self Remediation Contract
turns April 2022's Building Safety Pledge into binding commitments for the
industry.

 

The Self Remediation Contract's commitments are consistent with the principles
first announced by Persimmon in February 2021. Over two years ago Persimmon
led the industry in announcing that it would protect leaseholders from the
costs of cladding removal or life-critical fire related safety remediation in
buildings over 11 metres high constructed by the Group.

 

As confirmed in our 2022 Results, by December 31 2022, the Group had incurred
a total of £350m relating to provisions and costs (including those due to
DLUHC for remediation already carried through the Building Safety Fund) for
claims for building safety remediation. The Group believes this provision
remains sufficient.

 

For further information, please contact:

 

Persimmon

Anthony Vigor, Group Director of Policy and External Affairs

Tel: +44 (0)7767 425822

 

Citigate Dewe Rogerson

Kevin Smith / Ellen Wilton

Tel: +44 (0)20 7638 9571

persimmon@citigatedewerogerson.com (mailto:persimmon@citigatedewerogerson.com)

 

Notes to editors

 

In March 2023, Persimmon announced that it had identified 73 multi-storey
developments it constructed in the 30 years prior to 5 April 2022, that now
require cladding removal or other life-critical fire-safety work.

 

The Group has established a dedicated team which is working closely with
landlords and their agents to progress the necessary works as swiftly as
possible. Work is underway or already complete on 42 developments and
Persimmon aims to start work at all remaining sites by the end of 2023.

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