Email from CAD3 Jan 2011 00:47
Below is a copy of an email received by somebody on the ADVFN board:
Thank you for your e-mail. The Board of Cadogan is aware of its obligations under the Disclosure and Transparency Rules of the UKLA it is, however, keen to ensure that all shareholders are kept fully informed on the Company’s activities as appropriate. As we advised on 8 December, GPS have confirmed to us that payment of the $6.5m currently due under our confidential settlement agreement with them, will be paid by the end of the financial year, to date a certain proportion has been received and the remainder we understand is in transit via the banking system. When we are in a position to fully advise the market we will do so.