GlobalData Regulatory News (DATA)

16 Apr 2007 10:01

Datacash Group PLC16 April 2007 DataCash Group plc ("DataCash" or the "Company") Further re Proposed Acquisition of NetGiro Systems AB ("NetGiro") Further to the announcement of 30 March 2007 regarding the proposed acquisitionof NetGiro, the Board of DataCash has sent a notification to the board ofNetGiro International AB ("NetGiro International") to terminate the Sale andPurchase Agreement entered into between the Company and NetGiro International on8 February 2007 ("SPA") due to breaches of the SPA by NetGiro International. The Company now intends to take legal action against NetGiro International toseek damages as a result of these breaches and also intends to take legal actionagainst one of the shareholders of NetGiro International arising out of theconduct of that shareholder in the period leading up to the extraordinarygeneral meeting of NetGiro International held on the 30 March 2007 ("EGM") andat the EGM itself. A further announcement will be made in due course. Enquiries DataCash Group plc David Bailey - Deputy Chairman 0870 7274760 Keith Butcher - Commercial Director 0870 7274760 Paul Burton - Chief Financial Officer 0870 7274760 MJ2 Business Communications Alice Proctor / Tim McCall (0)20 7491 7776 / 07753 561862 This information is provided by RNS The company news service from the London Stock Exchange