Fri, 8th Apr 2016 16:59
Jardine Lloyd Thompson Group plc ('JLT' or 'the Group') has reached a settlement and concluded litigation with Willis regarding certain employment related disputes involving the Fine Arts, Jewellery, and Specie team hired by JLT in 2015. A provision of approximately £22 million will be charged as part of second quarter results as a consequence of the settlement, relating to the settlement itself and associated costs, and is incremental to any previously raised litigation provisions. This charge will be treated as an exceptional item and included in net litigation costs, as it is unrelated to the underlying business and trading performance of the Group. Terms of the settlement are final and confidential and the matter is now closed.
8th April 2016
Jardine Lloyd Thompson Group plc
Paul Dransfield - Corporate Communications 020 7528 4933
Brunswick Group LLP
Tom Burns/Dania Saidam 020 7404 5959
This announcement may contain "forward looking statements" regarding the financial position, business strategy or plans for future operations of the Group. By their nature, forward looking statements involve risk and uncertainty, relating to facts that are beyond the company's ability to control, such as future market conditions. Any such statements in this announcement speak only as at the date of this announcement. The company does not assume any obligation to, and does not intend to, revise or update these forward looking statements except as required pursuant to applicable law.