Clarkson Regulatory News (CKN)

29 Apr 2008 09:34

Clarkson PLC29 April 2008 29 April 2008 Clarkson PLC Litigation - Update The Board has reviewed with its advisers the litigation concerning previouslyannounced claims totalling $67m from Sovcomflot and Novoship, the Russianstate-owned shipping companies. As a result of the discovery of new evidence andongoing discussions with the Claimants the Board has decided, without anyadmission of liability, to make a further provision against the claims of £8m. The Board's view of the further potential claim by Sovcomflot regarding routineyear end valuations remains unchanged from the views expressed in the 2007annual report. Accordingly no provision has been made against this potentialclaim. Enquiries:Clarkson PLC: 020 7334 0000Richard Fulford-Smith, Chief Executive OfficerJeff Woyda, Finance Director Hudson Sandler: 020 7796 4133Jessica RouleauFran Read This information is provided by RNS The company news service from the London Stock Exchange