Sorry if already seen...28 Mar 2011 17:46
RNS Number : 7381D
Triple Plate Junction Plc
28 March 2011

28th March 2011 Triple Plate Junction PLC ("Triple Plate" or "the Company") Settlement with former Directors The Board of Triple Plate today announces that it has agreed to pay a total of £115,000 in full and final settlement of all of the claims of Ian Gowrie-Smith, David Lees and Peter Wright, the former directors who resigned from the Board on 1st June 2010, and their related parties. The claims totalled approximately £180,000 and were for repayment of loans, expenses, loss of office, and unpaid remuneration. Triple Plate included provisions in its interim accounts at 30th September 2010 and estimated costs in its cash forecasts to the end of 2011 of approximately £155,000, in aggregate, for these claims. Tony Shearer, Chairman of Triple Plate, said "I am glad that this matter has been resolved without the risks, distractions and costs involved in taking the dispute to a Court to resolve, and that the Company can continue to move ahead under its new team." For further enquiries please contact: Triple Plate Junction Plc Tony