Last checked at 30 Apr 2010 07:00
30 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 libel litigation brought by Kenny Shovell and his company Key IP Limited against Adventis Group Plc and Charles Phillpot, the Company's chief executive. The open terms of settlement included a withdrawal by Adventis of the letter complained of. The impact on the Group's pre-tax profits for 2010 will be an exceptional charge of approximately £0.310 million which is net of earlier provisions, VAT and insurance refunds. The remaining cash impact will be approximately £0.180 million.
This announcement replaces an earlier announcement on 29 April 2010, which was withdrawn because it contained information confidential under the Court Order containing the terms of settlement. Adventis and its solicitors have apologisedto Mr Shovell and Key IP Limited for that unauthoriseddisclosure.
-ENDS-
Enquiries:
| Adventis Group Plc |
|
| Charles Phillpot, CEO | 020 7034 4750 |
| Peter Linnell, Finance Director | 020 7034 4795 |
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