MPH.L Regulatory News (MPH)

12 Dec 2006 17:37

Marchpole Holdings PLC12 December 2006 MARCHPOLE HOLDINGS PLC ("The Company") Response to recent statements by Ozwald Boateng and Bespoke Couture Limited regarding the Red Label Licence Agreement Marchpole Holdings plc wishes to clarify the facts in relation to the currentlegal status of its Licence Agreement to produce and sell Ozwald BoatengDiffusion Collection garments in the United Kingdom. The Licence Agreement wasgranted in October 2002 and runs until October 2009. On 3 November 2006, the Court of Appeal held that an Order obtained by BespokeCouture Limited from the High Court in December 2005 to the effect that theLicence Agreement had been terminated was wrong and overturned the High CourtJudgment. Earlier this year, Bespoke Couture Limited sold a diffusion range of garments tosome of the Company's customers in breach of the Licence Agreement. The Companycommenced proceedings in June 2006 against Bespoke Couture Limited claimingdamages and in those proceedings Bespoke Couture Limited have made aCounterclaim in which it alleges that it has new grounds to terminate theLicence Agreement. The Company has been advised that Bespoke Couture Limited hasno prospect of success and that it will be awarded substantial damages againstBespoke Couture Limited. The Company is seeking trial of the new action at the earliest possible datewhich is likely to be in about March or April 2007. In the meantime, the Companyhave continued to produce and sell Boateng Diffusion garments for Spring/Summer2007 and will be doing so for the Autumn/Winter 2007 season. For further information, please contact: Emma Kent / Alexandra WaltonBell Pottinger Corporate & Financial 020 7861 3232 John Harrison, Finance Director,Marchpole 020 7908 7777 This information is provided by RNS The company news service from the London Stock Exchange