Adams Regulatory News (ADA)

15 Dec 2006 07:58

DawMed Systems PLC15 December 2006 For Immediate Release 15 December 2006 Dawmed Systems Plc Dawmed Systems Plc's operating subsidiary company, Dawmed International Limited("the Company"), has issued legal proceedings against a trade debtor, whosupplies ancillary products direct to a portion of the Company's customer base,for the recovery of unpaid invoiced commission owed to it totalling some£146,000 and for specific performance of the debtor's obligation under theestablished contract to inform the Company of all subsequent commissions earnedto enable the Company to raise the appropriate further invoices, some of whichare attributable to the year ended 30 September 2006. The Company has been advised by Counsel that, on the information available atpresent, its prospects of success are sufficiently good to warrant anapplication for summary judgement. Accordingly, Dawmed Systems Plc will delaythe publication of its audited accounts for the year ended 30 September 2006until such time as this action has been resolved, or its outcome has becomesufficiently clear. In other respects the Directors are happy to report that the overall performanceis in line with their expectations as anticipated in the Chairman's Statement inthe 2006 Interim Report and Accounts. Enquiries: Kevin Gilmore Chairman DawMed Systems plc 01789 740010 Roland Cornish Chairman Beaumont Cornish Limited 020 7628 3396 This information is provided by RNS The company news service from the London Stock Exchange