Source - LSE Regulatory
RNS Number : 3071P
Costain Group PLC
17 February 2021
 

Costain Group PLC
 

("Costain" or "the Company" or "the Group")

 

Settlement Agreement in relation to the A465 contract

Costain, the smart infrastructure solutions company, announces it has entered into a  settlement agreement with the Welsh Government in relation to the A465 contract ("Settlement"). 

The financial terms of the Settlement are in line with the provision made by the Group for the year ended 31 December 2020. As a result of the Settlement, the Company has certainty of the final account sum payable by the Welsh Government to the Company, including further milestone payments.

Work on the contract is nearing completion, and the Company continues to be responsible for the delivery and the management of associated project risks for the remaining works, which are scheduled to be completed in September 2021.

 

ENDS

Enquiries:

Costain:

Helen Willis, Chief Financial Officer                                                  Tel: 01628 842 444

MHP Communications
Tim Rowntree, Peter Hewer

 Tel: 020 3128 8100   costain@mhpc.com  

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGRZZGMZNVVGMZM
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.