DSN.L Regulatory News (DSN)

12 Dec 2006 09:48

Densitron Technologies PLC12 December 2006 Densitron Technologies plc is pleased to announce the successful outcome of itlegal process to remove the Old Addeyans Football Club (OAFC) from its land atBlackheath. As disclosed in the 2005 annual report the OAFC, whose trustees include Mr.Clifford Hardcastle a former Director of the Company, had claimed adversepossession over the land. The Company has maintained that the claim by the OAFC was totally withoutfoundation and this has proved to be the case. In its process to secure the land the Company has been forced to incursignificant legal expense. A trial date had been set for the week commencingthe 11th December. On Friday 8th December, the Company accepted a last minuteoffer from the OAFC whereby OAFC paid to the Company £45,000 towards its costsof the proceedings. The settlement confirms the Company's ownership of the landwhilst permitting the OAFC to remain in occupation for only a short period. Whilst the settlement terms are favourable to the Company given the prolongednature of this affair and the continuing distraction to our management, asettlement that draws a line under this was in the Board of Directors opinionthe best outcome for our stakeholders. Furthermore with the land secured we maynow concentrate on working to maximising the return from this asset toshareholders. R. BaberChairman Enquiries: Densitron Technologies plcRalph Baber, Chairman 0207 648 4200 Corporate Synergy PlcIan Rice, Corporate Finance 0117 933 0020 This information is provided by RNS The company news service from the London Stock Exchange