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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Leisureplay | LSE:LPY | London | Ordinary Share | GB0002924651 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Immediate release: 5 August 2004 Caplay Plc (formerly Leisureplay Plc) ("Caplay") Outcome of Litigation The Board of Caplay Plc is pleased to announce that the High Court has ruled in favour of Caplay Plc in the proceedings issued by Mr Kenneth Murray, the former Chief Executive of the Company. The judge made various criticisms of Mr Murray's conduct and ruled that his claims for three years salary and benefits as a severance package have failed and that no payment is due to Mr Murray. Caplay had provided fully for the three years salary and benefits totalling £ 850,000 and will now seek to recover those funds from escrow and reverse the provision made in the 2003 accounts. Caplay also intend to apply to the High Court to recover their costs of the litigation from Mr Murray. Caplay Chairman, Philip Reid, commented: "We are delighted with today's result and can now put these matters behind us to concentrate fully on the future growth of the business. The funds from our recent fundraising combined with the recovery of the funds from escrow which had been set aside for the case against Mr Murray afford us an attractive position from which to make future investments." -Ends- Contacts: Anthony Fabrizi Director Tel. 07771 782 434 David Ingram Ingram Winter Green Tel. 020 7845 7406 Ben Simons Hansard Communications Tel. 020 7245 1100 END
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