8 Jul 2010 07:20
AVESCO GROUP plc
Court case update
Avesco Group plc ("Avesco" or the "Group"), the international provider of services to the corporate presentation, entertainment and broadcast markets, highlighted in its recent interim results on 18 June 2010 that the Group has an economic interest in the outcome of existing litigation brought by Celador International Ltd against The Walt Disney Company and others ("Disney"). The trial began on 1 June 2010 in the US District Court of Riverside, California.
The Group is pleased to announce that the jury has reached a verdict in favour of Celador International Ltd and has awarded damages of $269m. If paid in full the Group's interest in the award, after costs, is estimated at approximately $50m. Disney retain the right to appeal.
For further information please contact:
| Avesco Group plc |
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| Ian Martin, Chief Executive | 01293 583400 |
| John Christmas, Group Finance Director |
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| finnCap Corporate Finance Clive Carver/Ed Frisby
Corporate Broking Tom Jenkins |
020 7600 1658 |