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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
FOR IMMEDIATE RELEASE
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
28 March 2024
FIREANGEL SAFETY TECHNOLOGY GROUP PLC
("FireAngel" or the "Company")
STATEMENT RE: LEGAL CLAIM
FireAngel (AIM:FA), a leading developer and supplier of home safety products, announces that legal proceedings have been commenced against Fireangel Safety Technology Limited, a wholly owned subsidiary of the Company (the "Subsidiary") by Zenner International GmbH & Co KG and Minol Messtechnick W. Lehmann GmbH & Co KG (the "Claimants") relating to the supply by the Subsidiary of alleged defective units between 2011 and 2019.
The claim for damages was issued at the High Court of Justice, England and Wales on 20 March 2024 and served on the Subsidiary today. The maximum value of the claim is ?7,255,505 plus interest and legal costs. In the alternative, the Claimants seek specific performance of obligations under an alleged warranty to repair or replace the allegedly defective units.
Having taken legal advice, the Subsidiary believes the claim is without merit and will robustly defend the proceedings.
Noting the nature of the legal proceedings, the Company will provide further comment at the appropriate time.
ENDS
For further information please contact:
FireAngel Safety Technology Group plc | 024 7771 7700 |
Andrew Blazye, Non-Executive Chair Neil Radley, Chief Executive Officer | |
Shore Capital (Nominated adviser and broker) | 020 7408 4050 |
Tom Griffiths/David Coaten/Tom Knibbs | |
Houston (Financial PR) | 0204 529 0549 |
Kate Hoare/Kelsey Traynor/Ben Robinson |
Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect and save lives by making innovative home safety products which are simple and accessible. FireAngel is one of the market leaders in the European home safety products market.
FireAngel's principal products are connected smoke alarms, CO alarms, heat alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.
For further product information, please visit: www.fireangeltech.com