Last checked at 29 Apr 2010 07:00
29 April 2010
Adventis Group Plc ("Adventis", the "Group" or the "Company")
Settlement of litigation
Adventis Group plc (Adventis - ATG), the AIM-quoted full service multimedia marketing and advertising agency, announces the settlement of litigation brought by Kenny Shovell and his company Key IP Limited against Adventis Group Plc and Charles Phillpot, the Company's chief executive. No damages were payable but both claimants and defendants will pay their own costs. The impact on the Group's pre-tax profits for 2010 will be an exceptional legal fees charge of approximately £0.310 million which is net of earlier cost provisions, VAT and insurance refunds. The remaining cash impact will be approximately £0.180 million.
-ENDS-
Enquiries:
| Adventis Group Plc |
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| Charles Phillpot, CEO | 020 7034 4750 |
| Peter Linnell, Finance Director | 020 7034 4795 |
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| Arbuthnot Securities Limited |
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| Tom Griffiths | 020 7012 2000 |
Notes to Editors:
Adventis Group is a marketing services and advertising agency. Its core areas of activity are healthcare, technology & telecoms, media and property. Subsidiary companies include: Adventis Health, Second2, bChannels, Adventis Media and Adventis Property.
For full details see www.adventis.co.uk