23rd Nov 2011 07:00
23 November 2011
PORTA COMMUNICATIONS PLC
Response to Media Square Claims
The Board of Porta Communications plc ("Porta" or "the Company") notes the announcement by Media Square plc that it intends to take legal action against the Company and its Chief Executive and Chairman, David Wright.
The Board of Porta absolutely refutes these claims as they are untrue and will defend them vigorously. The Board of Porta also believes that any losses which Media Square may have suffered are likely to be as a result of their own actions and failings. Further, at no stage, prior to issuing proceedings on 22 November, and including in its letter of 11 October, has Media Square set out the legal basis for its claims, despite repeated requests.
A further update will be provided as appropriate.
Enquiries
Porta Communications plc www.portacomms.com | ||
David Wright, Chief Executive | +44 (0) 20 7680 6500 | |
Keith Springall, Finance Director | +44 (0) 20 7680 6500 | |
Northland Capital Partners | ||
(Nominated Adviser) | Tim Metcalfe / Rod Venables | +44 (0) 207 796 8800 |
(Corporate Broker) | Katie Shelton | +44 (0) 207 796 8800 |
About Porta Communications
Porta Communications plc, the international marketing and communications business, is led by David Wright, Chief Executive and Chairman. David is well known for establishing Citigate in late 1988. In 1997 he reversed Citigate into Incepta plc and David became Chief Executive of the enlarged Group, later becoming Chairman. By 2003, when David left Incepta, he had built one of the largest international financial communications companies in the world, through a series of key acquisitions and an active recruitment programme. Prior to Citigate he was Managing Director of Streets Financial Strategy from 1986 to 1988. David began his career as a journalist.
For further information, please visit www.portacomms.com
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