(Alliance News) - Watchstone Group PLC said on Wednesday it and wholly-owned subsidiary Watchstone Ltd have agreed a "full and final settlement" with Robert Terry and others in respect of ongoing High Court proceedings.
The proceedings arise out of a share purchase agreement entered into by Watchstone with Terry and others in April 2011. The settlement involves a partial repayment by Terry and others of funds paid by Watchstone Ltd in November 2018.
"As a result of this settlement, all existing legal proceedings between Watchstone Group, Watchstone and Mr Terry have been settled. The terms of the settlement are confidential," the company said.
Shares in Watchstone closed down 4.3% at 107.00 pence in London on Wednesday.
By Lucy Heming; lucyheming@alliancenews.com
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