Update9 Mar 2018 13:59
Just from ADVFN Board
Update on Litigation
As announced on 31 October 2017, the historic legal matters surrounding the Company's relationship with its former regulated payment processor,
EU Pay Group Limited ("EUPay") has been settled without any adverse cost implications.
PDU has independently of the Company taken responsibility for the amounts owed by EUPay to the Group (the "Arrangement"). As a result of the settlement, PDU is now in a position to pursue the collection of these amounts without any hindrance from the now settled litigation.
This will facilitate the repayment of the amounts outstanding to the Group (circa GBP224,000) under the Arrangement.