Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksWTG.L Regulatory News (WTG)

  • There is currently no data for WTG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Prospective claim by Slater and Gordon

11 May 2017 07:00

RNS Number : 7958E
Watchstone Group PLC
11 May 2017
 

 

Watchstone Group plc

 

("Watchstone" or the "Group")

 

Prospective claim by Slater and Gordon

 

Further to its announcement on 30 November 2016, Watchstone Group plc (LON:WTG) has now received further correspondence from a firm of solicitors acting for Slater and Gordon Limited (ASX: SGH) ("SGH") stating that it intends to issue proceedings by the end of this month. Its letter states that SGH intends to make a claim for a total amount of approximately £600m on the basis that but for fraudulent misrepresentation it would not have entered into the transaction at all.

 

A groundless claim for fraudulent misrepresentation was dismissed by the independent barrister in respect of the warranty escrow process relating to the sale of the Professional Services Division in November 2016 ("Opinion"). The Opinion, which was formed on the basis of evidence provided by both SGH and Watchstone, stated that a misrepresentation claim was not a bona fide claim with a better than 50 per cent prospect of success.

 

Watchstone denies any misrepresentation in the strongest terms and remains satisfied that neither the warranty claim nor a misrepresentation claim have merit and will defend such claims robustly if proceedings are brought.

 

Despite multiple requests, SGH has continuously declined to disclose key evidence in its possession which would be relevant to the merits and quantum of its purported claims. Watchstone believes this evidence will be available to it in the event that SGH issues proceedings and it intends to seek disclosure of such information at the earliest possible opportunity.

 

Watchstone will make further announcements in due course, as appropriate.

 

 

For further information:

 

Watchstone Group plc

Tel: 020 7930 8033

alexnekrassov@newcenturymedia.co.uk

 

Peel Hunt LLP, Nominated Adviser and broker

 

 

Tel: 020 7418 8900

Dan Webster

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
STRGGUWAAUPMPGU
Date   Source Headline
5th Dec 201110:54 amPRNForm 8.3 - Quindell Portfolio Plc
5th Dec 20119:58 amRNSForm 8.3 - Quindell Portfolio Plc
5th Dec 20117:00 amRNSRule 2.10 Announcement
2nd Dec 20111:39 pmRNSEarly settlement of TMS Earnout
2nd Dec 20117:00 amRNSRecommended Share Offer for Mobile Doctors
1st Dec 201110:58 amRNSForm 8.3 - Quindell Portfolio Plc
30th Nov 20112:00 pmRNSTotal Voting Rights
29th Nov 201110:36 amRNSForm 8.3 - Quindell Portfolio Plc
28th Nov 20119:07 amRNSForm 8.3 - Quindell Portfolio Plc
25th Nov 20113:54 pmRNSTMC (Southern) Ltd - Form 8.3 - Quindell
25th Nov 201110:40 amRNSForm 8.3 - Quindell Portfolio Plc
18th Nov 20117:00 amRNSAppointment of Joint Broker
17th Nov 20115:32 pmRNSForm 8 (OPD) Mobile Doctors Group Plc
17th Nov 20114:38 pmRNSJohn Stretton-Knowles - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSMatthew Whiting - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSNeil McGrigor - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSMark Read - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSSimon Rand - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSTony Smith - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSJames Eneas - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSDominic Milton - Form 8.3 - Quindell
17th Nov 20114:38 pmRNSTMC (Southern) Limited - Form 8.3 - Quindell
17th Nov 20114:37 pmRNSBradley Wingrave - Form 8.3 - Quindell
17th Nov 20114:37 pmRNSForm 8 (OPD) (Quindell Portfolio Plc)
17th Nov 20114:37 pmRNSForm 8 (OPD) (Mobile Doctors)
17th Nov 20114:37 pmRNSRule 2.10 Announcement
10th Nov 20117:00 amRNSPartnership with SMI Telecoms LLC
7th Nov 20112:57 pmRNSForm 8.3 - Quindell Portfolio Plc
4th Nov 20119:54 amRNSPossible Offer for Mobile Doctors
1st Nov 20117:00 amRNSAcquisition of Maine Finance Limited
31st Oct 20117:00 amRNSTotal Voting Rights
26th Oct 20117:00 amRNSIntegration of Acquired Businesses
21st Oct 201110:58 amRNSDirector Shareholdings/Significant Shareholders
19th Oct 201110:56 amRNSDirector/PDMR Shareholding
19th Oct 20119:56 amRNSDirector/PDMR Shareholding
19th Oct 20117:00 amRNSFurther Investment in Mobile Doctors Group plc
17th Oct 201110:00 amRNSDirector/PDMR Shareholding
17th Oct 20117:00 amRNSSeven new Contract wins and Trading Update
10th Oct 20117:10 amRNSFurther Investment in Mobile Doctors Group plc
10th Oct 20117:00 amRNSAppointment of Financial PR Advisor
1st Aug 20117:00 amRNSTotal Voting Rights
25th Jul 20117:01 amRNSDirector/PDMR Shareholding
25th Jul 20117:01 amRNSInvestment in MDG.L and Board Appointment
25th Jul 20117:00 amRNSHalf Yearly Report
22nd Jul 20117:00 amRNSAcquisition
21st Jul 20117:00 amRNSInvestment in digital insurance brand Ingenie
18th Jul 20117:00 amRNSChange of Name
14th Jul 201111:24 amRNSIssue of Warrants
14th Jul 201111:23 amRNSResults of General Meeting
11th Jul 20114:02 pmRNSChanges to significant shareholdings

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.