Last checked at 8 May 2019 11:45
8 May 2019
Catalyst Media Group Plc
("CMG", "Catalyst" or the "Group")
Update regarding SIS litigation
The Company provides the following update in respect of Sports Information Services (Holdings) Limited ("SIS") in which CMG has an approximate 20.54% interest.
As set out in the Company's interims, announced on 27 March 2019, SIS is currently involved in a litigation case that was heard at the High Court in January/February 2019 (the "Case"). The Case has been brought by The Racing Partnership ("TRP") and others against SIS's subsidiary, Sports Information Services Limited ("SISL"), and others.
The Company has been informed by SISL that Mr Justice Zacaroli, who heard the Case, has today handed down Judgment in relation to the liability issues in respect of the Case.
CMG understands that SISL has successfully defended two of the three claims: 1) on intellectual property infringement; and 2) on conspiracy by unlawful means. CMG has been informed that SISL's management note both SISL and its witnesses have been vindicated with regards to any allegation of fraudulent and/or dishonest conduct.
The Judge found in favour of TRP in relation to a third claim of breach of confidence in relation to certain race day data supplied to SISL by a third party. No ruling has been given as to any damages.
CMG has been informed that in light of the above SISL's management will be consulting with its advisors with regard to next steps.
CMG will make further announcements in relation to the Case as appropriate.
Enquiries:
Catalyst Media Group Plc
Michael Rosenberg, Non-executive Chairman: 07785 727 595
Melvin Lawson, Non-executive Director: 020 7734 8111
Strand Hanson Limited: 020 7409 3494
James Harris
Richard Tulloch
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.