RE: Test the patience of a saint27 Aug 2021 23:50
Monty888 from June Rns
The Board has formed a judgment that, in accordance with the contractual terms, and if required, it should be possible to replace the product in dispute and a product warranty provision has been made accordingly. The Board's best estimate of the cost to replace is up to a maximum of £19.8m, the timing of any outflow is dependent on settlement of the dispute. If no settlement is achieved and legal action is required, the timing of any possible outflow will be extended.
For clarity that's 20.2 million less than you have used in your modelling.