BOC Bang & Olufsen AS

12.72

0.24 (1.92%)

07 Feb 2025 - Closed

Realtime Data

Share Name	Share Symbol	Market	Type
Bang & Olufsen AS	AQEU:BOC	Aquis Europe	Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.24	1.92%	12.72	12.54	12.74	12.88	12.54	12.54	20,451	15:54:59

US Retirement Benefit Plan Litigation

01/12/2003 9:00am

UK Regulatory

    1 December 2003

                     US Retirement Benefit Plan litigation                     

The BOC Group's preliminary results statement issued on 13 November 2003
included details of an action filed against The BOC Group Cash Balance
Retirement Plan (the Plan) in the US. The Plan was contesting the action and
the maximum potential liability was estimated at US$116 million. Subsequently
the parties have reached agreement in principle to settle at US$69 million.

The settlement will be paid out of Plan assets. A provision of US$69 million
has been made in the audited financial statements of the Group for the year
ending on 30 September 2003, which will be published in December. Under UK
pension accounting rules (FRS 17) this amount has been recognised in the
Group's profit and loss account and has been treated as an exceptional item.

Contact:        Christopher Marsay, Director - Investor Relations              
                                                                               
                Tel: 01276 477222 (International +44 1276 477222)              



END