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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Birse Grp. | LSE:BIE | London | Ordinary Share | GB0001005684 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8524N Birse Group PLC 13 July 2000 BIRSE GROUP PLC ("BIRSE") Outcome of Arbitration process Birse announces that it has been awarded #0.5 million by the Arbitrator in respect of its Rhymney Valley Relief Road project. The project, which was completed in 1992, has been the subject of arbitration since 1996. The position on interest and costs remains to be determined as does the possibility of appeal. At 30th April 2000, Birse included in its balance sheet as a debtor under the heading "amounts receivable under contracts" a sum of #8.1 million in respect of this project. On the basis of this award and subject to the determination regarding interest and costs and the outcome of any appeal, there is likely to be a significant asset write-off in respect of this project which would be charged as an exceptional item in the results for the six months to 31st October 2000. Peter Watson, Chief Executive of Birse, commenting on the award said: "The factors giving rise to this dispute originated in the early 1990s. Although the award is disappointing, in no way does it represent the quality of our ongoing business". For further enquiries please contact: Birse Group plc Peter Watson, Chief Executive 01652 633222 Financial Dynamics Tom Baldock 020 7831 3113
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