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LONDON (Alliance News) - Worthington Group PLC Monday said it has resolved the legal dispute over GBP3 million of assets in its pension fund, the Jerome Group PLC Retirement Benefits Plan.
The pension fund placed the assets with solicitors pending an investment in the Rangers International Football Club PLC prior to Rangers entering administration in 2012. Worthington said the terms of the resolution are confidential.
The company also said a scheme of arrangement originally intended to resolve the risk from the pension deficit is no longer required, due to the scale of acquisitions it is making.
"The company expects to be able to update shareholders concerning these acquisitions and its re-listing progress before the end of the month," it said.
Worthington Group shares have not traded since October 2014.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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