Cenkos Securities PLC Legal Dispute (5366G)
29 6월 2012 - 10:30PM
UK Regulatory
TIDMCNKS
RNS Number : 5366G
Cenkos Securities PLC
29 June 2012
29 June 2012
Cenkos Securities plc ("Cenkos" or "the Company")
As disclosed in note 19 of our 2011 Annual Report, a
cash-settled shadow equity scheme was set up in 2009 for the Cenkos
team based in Edinburgh. The Company re-organised this office in
2010 resulting in the cessation of this arrangement and a number of
staff leaving the Company. A provision for this re-organisation was
established in 2010 to cover any resultant liabilities. The Company
remains in dispute with a former member of staff on this issue.
We have this now been informed by our legal advisers that this
former member of staff has issued a High Court writ against the
Company, claiming GBP3.04m. The Board believes that the size of
this potential claim is frivolous and that appropriate accruals
have already been made for any potential liability due. The Company
intends to defend any such claim vigorously.
Enquiries:
Jim Durkin 020 7397 8900
Chief Executive Officer
Cenkos Securities plc
David Rydell/Duncan Mayall 020 7861 3232
Pelham Bell Pottinger
Nick Donald 020 7991 1504
HSBC (Nomad)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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