8th Feb 2005 10:56
D1 Oils Plc08 February 2005 8 February 2005 D1 Oils to contest High Court claim D1 Oils plc intends to contest vigorously a claim which has been lodged with theHigh Court for approximately £725,000 in respect of a dispute over payment forservices and intellectual property rights with Mr. Steve Davis and hiswholly-owned company SIF. In its prospectus D1 Oils plc provided for the paymentof the disputed amount to be made using part of the proceeds of the placing ofits shares. However, a dispute has now arisen between the parties as to whetherthe payment should be made. D1 Oils plc is seeking to set off its owncounterclaims against Mr. Davis and SIF for at least the totality of theamount detailed in the claim. D1 Oils and Mr. Davis had originally agreed to try to resolve the disputethrough mediation and still hope to do so. Enquiries Karl Watkin D1 Oils plc 07808 690069 Kevin Byram Brunswick 020 7404 5959James Crampton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
NEOS.L