Claim for damages against IDE Group Holdings Plc

7 February 2018

IDE Group Holdings Plc

("IDE Group" or "the Company")

Claim for damages against IDE Group Holdings Plc

Further to the announcement on 1 February 2018, IDE Group Holdings Plc provides an update on the claim for substantial damages from Coreix Limited in relation to the trademark infringement case where liability was decided in 2017.

Coreix had submitted a request for a Case Management Conference at the Intellectual Property Enterprise Court ("IPEC") on 6 February 2018, however this request was adjourned for at least three months by the IPEC judge in order that the Company could be permitted sufficient time to mount a substantial defence. This was on the basis that Coreix had increased the damages claim to £500,000 in January 2018, the maximum under the IPEC rules, the claim having always previously stated by Coreix's solicitors to be for less than £10,000. The Board continue to reject the notion that the liability exceeds the amount originally stated and will argue that Coreix's claim should not exceed £10,000 and, even if that is not accepted by the Court, the Company's advice remains that its potential liability in respect of Coreix's claim should be materially below £500,000. 

The Company will provide further updates as and when appropriate.

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