CPC City Pub Group Plc (the)

    RNS Number : 9185J
  Capcon Holdings PLC
  10 December 2008
   

    10 December 2008

    Capcon Holdings plc ("Capcon" or the "Company")

    Argen litigation update

    Capcon is pleased to announce that, following successful mediation discussions that have been ongoing for a number of months, the
litigation proceedings brought against the Company by the vendors of Argen Limited (the "Vendors") have been dismissed on agreed terms with
no payment being made by the Company to the Vendors.

    The litigation proceedings related to claims by the Vendors of entitlement to the payment of further cash consideration under an
agreement between the Company and the Vendors dated 23 January 2003. The claims have always been refuted by the Company and the proceedings
have been vigourously resisted since they were issued. In addition to the dismissal of the claims, the agreed settlement terms provide for
the payment by the Vendors of �36,000 as a contribution towards the costs incurred by the Company in resisting the proceedings and a further
sum, to be determined by reference to the value at the date of sale of 473,912 ordinary shares in the Company currently held by the Vendors
and certain of their associated parties and which are to be sold to a third party or parties with the net proceeds of such sale being paid
to the Company. If such sale had been transacted at the closing mid market price of shares in the Company on 9 December 2008 (being, 6p per
share), this would have resulted in an aggregate payment to the Company (before deduction of the costs associated with such sale) of approximately �28,435. The amount ultimately to be paid to
the Company in this regard and the timing of that payment will, however, depend upon the price at which such sale(s) actually take place and
the availability of a suitable purchaser or purchasers in the market.

    Enquiries:
    Capcon Holdings plc: 0870 067 5050
    Cliff Cavender

    Shore Capital and Corporate Limited: 020 7408 4090
    Pascal Keane


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
MSCEAKAEFLDPFFE

City Pub (LSE:CPC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024

City Pub (LSE:CPC)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024