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Commencement of legal proceedings

20th Mar 2013 09:39

RNS Number : 4347A
AorTech International PLC
20 March 2013
 

AorTech International plc ("AorTech")

 

Commencement of legal proceedings

 

AorTech announces the commencement of legal proceedings for the recovery of sums due by SynCardia Systems, Inc. via arbitration. This action relates to invoices submitted for fees and costs together with accrued interest, in accordance with terms of the contracts between the two companies.

 

AorTech's legal action and claims are for the recovery of approximately US$2.5 million and AorTech is confident of its legal position in this matter and will provide further updates as and when appropriate.

 

 

Enquiries:

 

AorTech International plc

Bill Brown, Chairman

Tel: +44 (0) 7730 718296

 

finnCap

Stuart Andrews/Rose HerbertfinnCap as Nominated AdviserTel: 020 7220 0500

This information is provided by RNS
The company news service from the London Stock Exchange
 
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