15 Apr 2013 07:00
15 April 2013
Motive Television PLC
("Motive" or "the Company")
Favourable judgment in Italian court case
Before the Company's acquisition of its Spanish subsidiary, Adecq Digital S.L., (since renamed Motive Television S.L. ("S.L."), S.L. had in July 2007 signed an agreement with an Italian sales consultant, Enrico Amiotti. There then followed a dispute between S.L. and Amiotti, arising from the fact that Amiotti's activities had produced no sales. A letter from S.L. dated 18 January 2010 effected the formal termination of the consultant's services.
On hearing of the planned reverse takeover of S.L. by the Company, Amiotti requested that he be paid further sums, and on November 12th 2010 a written agreement was reached with him that provided that he be paid €64,679 in full and final settlement of any and all sums due to him. However, Amiotti did not sign this, and accordingly he was not paid this sum.
Subsequently Amiotti launched legal proceedings against S.L. in Lodi (Italy), claiming not only amounts equal to unpaid fees and expenses, but also substantial sales commissions on the Company's revenues from Mediaset and other clients that would have been a considerable multiple of the sum originally agreed with him. The Company's view was that, as Amiotti had played no part in generating these revenues, the Company had no liability to pay the commissions he was seeking. Motive's Italian legal adviser advised the Company that, on the basis of the evidence, it had a very strong case with regard to repudiating the claimed commissions.
The Company has been informed that a preliminary decision has been handed down by the court in Lodi in favour of the Company's position on the claimed sales commissions. The Judge granted Amiotti's claim in relation to his unpaid fees and also agreed a small contribution to his legal costs. The decision is in line with the Board's and the Company's legal adviser's expectations and the quantum of any final payment is expected to be significantly lower than the amount already provided for in the Company's accounts. The Company had made a provision of £150,000 in S.L.'s accounts for this litigation.
It is expected that the rationale for the judgement will be filed in the Italian court in the next 60 days. Once the Company and its legal advisers have had an opportunity to review the details of the judgement it will assess whether it is appropriate to appeal the decision.
A further announcement will be made in due course.
Contacts:
Motive Television plc | T: +44 20 7025 8425 |
Michael Pilsworth, Chairman | |
Leonard M. Fertig, CEO | |
Sanlam Securities UK (Nominated Adviser) | T: +44 20 7628 2200 |
Simon Clements / Virginia Bull | |
XCAP Securities | T: +44 20 7101 7070 |
Jon Belliss | |
Newgate Communications (Financial PR) | T: +44 20 7680 6559 |
Jason Nissé | |
Brainerd Communicators | T: +1 212 986 6667 |
Chris Plunkett / Mike Smargiassi | |
Media PR | T: +44 7774 860 011 |
Gerry Buckland |
Notes to Editors:
Motive Television provides software and services to the global television industry, enabling Television Anytime Anywhere. Motive's patented and proprietary technology platform responds to the heightened viewer demand for watching what they want, when they want, on whatever device they want; and is driven by the mandatory switchover from analogue to digital broadcasting as mandated by the International Telecommunication Union.
Motive Television provides broadcasters and pay television operators with enabling technology that provides opportunities to deliver highly valued services to viewers that generate additional income and retain existing subscribers, comprising:
Television Anytime. A technology platform that enables digital broadcasters and pay television operators to offer enhanced broadcasting services with or without the need for an Internet connection. These services include, among others, Video-on-Demand, Catch-Up TV, Virtual Channels, Sneak Preview TV, and Targeted Advertising. Television Anytime is currently in commercial operation in Europe both in digital terrestrial (DTT) and soon in satellite (DTH) environments. Patented in Spain and patent pending in the EU.
Television Anywhere. An advanced multi-screen multi-channel technology that allows a viewer to control and watch all the content received by or recorded in their main home television equipment on any computer, mobile phone, iPad or any other Internet connected device. Television Anywhere is software-based and can be updated via software upgrades on existing STB. US patent pending.
Motive's content division is:
Motive Television Limited, a Dublin-based award-winning independent production company that produces factual programmes for Irish broadcasters. It specializes in live sports production and sports documentaries and also produces factual and entertainment series.
Motive Television was founded in London in 2005 and its shares are quoted on the London Stock Exchange (AIM).
http://www.motivetelevision.co.uk/ir/mtv/ir.jsp?page=home