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Motive TV agrees to pay out in legal case

Mon, 21st Jan 2013 07:31

Digital technology firm Motive Television has agreed a settlement to end a legal fight with a former employee.The move comes after Motive won a court case against the former member of staff, Andre Vanyi-Robin, over the issue of share rights in December.Vanyi-Robin said then that he would appeal the judgement.At the time the company said his claims, which included his dismissal for gross misconduct, had no foundation and it would "contest them with the utmost vigour".However, the firm now said it would issue 100m ordinary shares of 0.01p each in the company to Vanyi-Robin. These shares will be subject to a soft lock-in arrangement for 12 months in order to preserve an orderly market, Motive said. In addition, the business has also agreed to pay to Vanyi-Robin earn-out commissions totalling £41,583.62 for the years 2011 and 2012.This will be done the issue of new shares - again subject to a lock-in - or in cash at the company's discretion, it said.The parties struck a conciliatory tone in the announcement.Executive Chairman of Motive, Michael Pilsworth, said: "I am glad that this matter has been settled between the parties and wish Mr Vanyi-Robin every success in his next business venture." Meanewhile, Andre Vanyi-Robin said he was pleased the two sides have reached this settlement amicably. "Motive is a fantastic business and I look forward to watching its progress in 2013 and beyond," he said.

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