21st Apr 2011 13:00
GUINNESS PEAT GROUP PLC
ANNOUNCEMENT
In September 2007 Guinness Peat Group plc ("GPG") announced a decision made by the European Commission which had found, amongst other things, that between January 1977 and July 1998 Coats Holdings Limited ("Coats") and William Prym GmbH & Co. KG had reached an alleged market-sharing agreement in the haberdashery sector and imposed a fine of €110.25 million on Coats. Coats has always vigorously disputed both the factual allegations and the amount of the fine. It lodged an appeal with the EU's General Court on 3 December 2007 to annul the decision and, in the alternative, to annul or reduce the fine.
The written pleadings have now closed and the General Court has fixed a date for an oral hearing on 24 May 2011. GPG is advised that judgment is expected within one year from the date of the oral hearing.
Enquiry details are: | ||
New Zealand media: | Geoff Senescall on: | +64 9 309 5659 |
Australian media: | Andrew Stokes on: | +61 2 8298 6100 |
UK media: | Kevin Smith on: | +44 20 7282 1054 |
Chris Healy
Company Secretary
Guinness Peat Group plc
Tel: +44 20 7484 3370
21 April 2011
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