Healthcare Support(Newcastle)FinPLC Notice of Settlement (0744I)

TIDM73FU

RNS Number : 0744I

Healthcare Support(Newcastle)FinPLC

24 August 2016

We refer to our previous announcements on 23 May 2014, 4 August 2014, 28 October 2014, 28 November 2014 and 20 November 2015.

On 24 August 2016 Healthcare Support (Newcastle) Limited ("HSN"), Laing O'Rourke Construction Limited ("LOR"), Interserve (Facilities Management) Limited ("IFM") and Newcastle Upon Tyne Hospitals NHS Foundation Trust (the "Trust") entered into a Settlement Agreement that resolves all outstanding disputes between the parties including any rights that the Trust may have accrued to terminate the Project Agreement. The construction phase of the project has been deemed complete. HSN received appropriate consents from the Majority Creditors to enter into the Settlement Agreement.

As a consequence of entering into the Settlement Agreement the proceedings issued by HSN on 17 November 2015 under Part 7 of the Civil Procedure Rules against the Trust and LOR in accordance with the provisions of the Project Agreement and the Construction Contract have been terminated.

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August 24, 2016 12:51 ET (16:51 GMT)

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