1 Feb 2018 07:15
IDE Group Holdings Plc
("IDE Group" or "the Company")
Claim for damages against IDE Group Holdings Plc
Further to the announcements on 11 July, 1 August, 22 and 30 November 2017, IDE Group Holdings Plc announces that the Company has received a claim for substantial damages from Coreix Limited ("Coreix") in relation to the trademark infringement case where liability was decided in 2017.
Coreix's claim has always been stated by Coreix to be for less than £10,000. They have now sought to increase that amount to £500,000, which is the maximum under the Rules of the Intellectual Property Enterprise Court that they can claim in that Court. The Board do not accept that the liability exceeds the amount originally stated and will argue that Coreix's claim should not exceed £10,000 and, even if that is not accepted by the Court, the Company has been advised that its potential liability in respect of Coreix's claim should be materially below £500,000.
This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014.
For more information please contact:
IDE Group Holdings Plc Andy Ross, CEO Julian Phipps, CFO
| Tel: +44 (0)344 874 1000 |
N+1 Singer Nominated Adviser and Broker James Maxwell Jen Boorer
| Tel: +44 (0)207 496 3000 |
Alma PR Limited Rebecca Sanders-Hewett Robyn Fisher | Tel: +44 (0) 208 004 4218 |