ConvaTec Share Price (CTEC)

Both ctec and scapa are doing well for me :)

Thu, 11th Jul 2019 07:00

RNS Number : 1609F
Scapa Group PLC
11 July 2019

11 July 2019

LEI No. 213800QIPVTK5ES5UU36

Scapa Group plc ("the Company")

Scapa commences legal action against ConvaTec

Further to the announcement made on 3 June 2019, Scapa Group plc (AIM: SCPA) announces that on 10 July, Scapa Tapes North America LLC. ("Scapa Tapes"), a US subsidiary of Scapa Group plc, filed a complaint against ConvaTec Inc. ("ConvaTec"), for breach of contract with regard to a Master Supply Agreement (MSA) between those respective parties, in which Scapa Tapes is claiming damages in excess of $83.81m and a declaratory judgement.

In addition, Scapa Group plc and Scapa Tapes have filed a motion to dismiss the complaint filed by ConvaTec with regard to the MSA between ConvaTec and Scapa Tapes.

The complaint is available for public review on http://civilinquiry.jud.ct.gov/CaseDetail/PublicCaseDetail.aspx?DocketNo=HHDCV196114103S; and the motion to dismiss is available for public review on https://ecf.njd.uscourts.gov/cgi-bin/login.pl.

Perhaps they should cosy up with scapa group instead of trying to terminate contract?

Prepare for Court action by Scapa Group over early termination on contract :(

Both Chair and SID now departing, neither of them had any prior healthcare experience anyway. Two big City names probably employed just to get the IPO away. No CEO until 30 Sept. the directors are unlikely to have walked if a bid was imminent. Not much to get excited about here.