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Result of Arbitration

1 Dec 2006 07:00

Ashley (Laura) Hldgs PLC30 November 2006 30 November 2006 LAURA ASHLEY HOLDINGS plc ("the Company") Result Of Arbitration Proceeding Concerning L'Oreal S.A Laura Ashley Holdings plc announces the result of the Final Arbitral Award inthe matter of an arbitration under the rules of the International Chamber ofCommerce between L'Oreal and two of the Company's subsidiaries. The dispute concerned a 20-year licence granted in 1996 by the Laura Ashleycompanies to L'Oreal, which was arbitrarily terminated by L'Oreal in 2002. On 19October 2004, the Company announced that after considering the parties'respective claims, the Tribunal had ruled in favour of the Laura Ashleycompanies on the issue of liability. L'Oreal's purported termination of thelicence was found by the Tribunal to be invalid. The questions of costs andcompensatory damages were left for the final phase of the proceedings. In the Final Arbitral Award, the Tribunal determined that the Laura Ashleycompanies should be awarded an amount of £2.9 million plus interest. Assumingthe award is paid by the end of December 2006, the amount of interest isexpected to be in the region of £0.6 million. In total, the Company has incurredlegal and other costs of £3.8 million which have been treated as a prepayment inthe balance sheet. In addition, the Company has a royalty debtor due fromL'Oreal in the amount of £0.7 million. Albeit with some important trading weeks still to come, the Company remainspleased with performance in the year to date. Enquiries: David Cook Finance Director & Company Secretary 020 7880 5100 This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
23rd Mar 202010:00 amRNSADMINISTRATORS APPOINTED TO LAURA ASHLEY
18th Mar 20208:15 amRNSDirectorate Change
17th Mar 20205:50 pmRNSAshley (Laura) Holdings
17th Mar 202010:32 amRNSINTENTION TO APPOINT ADMINISTRATORS
16th Mar 202010:46 amRNSDIRECTOR APPOINTMENT AND RESIGNATIONS
16th Mar 20207:00 amRNSFINANCING AND TRADING UPDATE
27th Feb 20207:00 amRNSDirectorate Change
20th Feb 20207:00 amRNSDirectorate change
20th Feb 20207:00 amRNSInterim Report 2020
20th Feb 20207:00 amRNSDirectorate change
20th Feb 20207:00 amRNSInterim Report 2020
19th Feb 202012:35 pmRNSFinancing Update
17th Feb 20207:00 amRNSResponse to press speculation
31st Jan 20207:00 amRNSDirectorate change
30th Dec 201912:07 pmRNSSecond Price Monitoring Extn
30th Dec 201912:02 pmRNSPrice Monitoring Extension
27th Dec 201912:07 pmRNSSecond Price Monitoring Extn
27th Dec 201912:02 pmRNSPrice Monitoring Extension
31st Oct 20197:53 amRNSResults of 2019 Annual General Meeting
25th Oct 20194:41 pmRNSSecond Price Monitoring Extn
25th Oct 20194:35 pmRNSPrice Monitoring Extension
24th Oct 20194:40 pmRNSSecond Price Monitoring Extn
24th Oct 20194:35 pmRNSPrice Monitoring Extension
23rd Oct 20194:35 pmRNSPrice Monitoring Extension
14th Oct 20197:00 amRNSDirectorate change
11th Sep 20197:00 amRNSDirectorate change
4th Sep 201912:07 pmRNSSecond Price Monitoring Extn
4th Sep 201912:02 pmRNSPrice Monitoring Extension
22nd Aug 20197:00 amRNSFinal Results
25th Apr 201910:29 amRNSNotice of Results & Trading Update
18th Apr 201912:07 pmRNSSecond Price Monitoring Extn
18th Apr 201912:02 pmRNSPrice Monitoring Extension
3rd Apr 201912:07 pmRNSSecond Price Monitoring Extn
3rd Apr 201912:02 pmRNSPrice Monitoring Extension
22nd Mar 20194:29 pmRNSStatement re Laura Ashley
19th Mar 201912:07 pmRNSSecond Price Monitoring Extn
19th Mar 201912:02 pmRNSPrice Monitoring Extension
7th Mar 201912:09 pmRNSForm 8.3 - Laura Ashley/Flacks Group
7th Mar 201912:04 pmRNSForm 8.3 - Laura Ashley/Flacks Group
7th Mar 201912:02 pmRNSForm 8.3 - Laura Ashley/Flacks Group
1st Mar 20199:19 amRNSForm 8.5 (EPT/RI)
28th Feb 201910:05 amRNSForm 8.5 (EPT/RI)
27th Feb 201911:08 amRNSForm 8.3 - Laura Ashley Holdings Plc
27th Feb 201910:57 amRNSForm 8.5 (EPT/RI)
27th Feb 20197:00 amRNSForm 8.5 (EPT/RI)
26th Feb 20195:43 pmRNSResponse to Unsolicited Offer by Flacks Group LLC
26th Feb 201912:15 pmRNSForm 8.3 - Ashley (Laura) Holdings Plc
26th Feb 201911:07 amRNSRule 2.9 Announcement
25th Feb 20192:28 pmRNSStatement re possible offer Laura Ashley
25th Feb 20197:00 amRNSUpdate on media speculation

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