20th Nov 2007 16:17
Capcon Holdings PLC20 November 2007 Capcon Holdings plc ("Capcon" or the "Company") As referred to in the annual Report and Accounts for the year ended 30 September2006 and in the Interim Statement for the six months ended 31 March 2007, Capconis defending proceedings that were issued and served on the Company in March2007 by three of the vendors from whom it purchased the entire issued sharecapital of Argen Limited, pursuant to an acquisition agreement dated 23 January2003 (the "Acquisition Agreement"). The vendors have issued proceedings claimingentitlement to receive and be paid further consideration, which they claim isowing under the Acquisition Agreement. Capcon is vigorously defending theseproceedings and counterclaiming for significant damages. The trial of the claimand counterclaim has been listed for the week of 7 July 2008. In a recent hearing the court identified the issues which it will determine atthe trial including disputed facts, the interpretation of the AcquisitionAgreement and possibly a historical valuation of Capcon Argen Limited. Thecourt's rulings on those issues will determine the outcome of the Parties'claims and counterclaims. For that reason, Capcon cannot, at this stage,quantify the possible outcome of the proceedings. For further information contact: Cliff Cavender Capcon Holdings plcTel + 44 870 067 5050 Peter Ward Insinger de BeaufortTel +44 207 190 7000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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