26th Nov 2013 14:15
LONDON (Alliance News) - Audio visual equipment and services company Avesco Group PLC Tuesday said it will delay the return of proceeds from litigation against The Walt Disney Company to shareholders until January, pending talks about another potential transaction.
The company gave no details of the potential deal, and said there's no certainty a deal will be reached, but thinks it would be beneficial for talks to conclude so that it can present more details about them at the same time as returning the funds to shareholders.
Avesco has previously said it intends to return GBP30.6 million to its shareholders. It won approximately USD66 million from Disney as a result of Celador International's victory in its legal case against Disney over alleged unpaid royalties connected to Celador's Who Wants to be a Millionaire? television programme, which Disney aired in the US.
Avesco shares were down 0.5% at 215 pence Tuesday afternoon.
By Steve McGrath; [email protected]; @stevemcgrath1
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