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Court Case Update

8th Jul 2010 07:20

RNS Number : 0301P
Avesco Group PLC
08 July 2010
 

 

AVESCO GROUP plc

 

Court case update

 

Avesco Group plc ("Avesco" or the "Group"), the international provider of services to the corporate presentation, entertainment and broadcast markets, highlighted in its recent interim results on 18 June 2010 that the Group has an economic interest in the outcome of existing litigation brought by Celador International Ltd against The Walt Disney Company and others ("Disney"). The trial began on 1 June 2010 in the US District Court of Riverside, California.

 

The Group is pleased to announce that the jury has reached a verdict in favour of Celador International Ltd and has awarded damages of $269m. If paid in full the Group's interest in the award, after costs, is estimated at approximately $50m. Disney retain the right to appeal.

 

 

For further information please contact:

Avesco Group plc

Ian Martin, Chief Executive

01293 583400

John Christmas, Group Finance Director

finnCap

Corporate Finance

Clive Carver/Ed Frisby

 

Corporate Broking

Tom Jenkins

 

020 7600 1658

 

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