6th Aug 2007 07:00
For Immediate Release 6 August 2007
PNC Telecom PLC ("the Company") Outcome of Litigation
In successful litigation in the High Court in London the Company has obtained judgements against two former Directors of the Company, Mr Geremy Thomas - in respect of his breach of fiduciary duty - and Mr Nigel Etherington, jointly and severally for ‚£281,750 plus interest since August 2004, and separately against Mr Etherington for a further sum of ‚£108,000 including interest to date.
As against Mr Thomas, the Company was also awarded a contribution towards costs of which there is a payment on account of ‚£20,000 due by August 2007.
Further costs are also recoverable from Mr Thomas (estimated to be ‚£30,000) and Mr Etherington (estimated to be ‚£140,000).
ENDS
Leo Knifton, PNC Telecom Plc 020 7251 3762
Roland Cornish, Beaumont Cornish Limited 020 7628 3396
PNC TELECOM PLCRelated Shares:
Tricor