Agility (PWC) and Professional Contract Administrators (PCA), a US-based consulting company, have received a joint arbitration award totaling $US 41.275 million from Supreme Foodservice GmbH, based in Switzerland, after the U.S. District Court affirmed the award of an independent arbitration panel in favor of Agility and PCA which determined that Supreme breached a consulting agreement. Agility’s share of this transfer was approximately $US 23.1 million inclusive of various legal fees and expenses. The impact of this settlement will be recognized towards the company’s profits; however the timing of the recognition can only be determined after the review and approval of our auditors as per the accounting standards.
September 20, 2023