ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

LPY Leisureplay

0.00
0.00 (0.00%)
Last Updated: -
Delayed by 15 minutes
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

Outcome of Litigation

05/08/2004 1:13pm

UK Regulatory


    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



1 Year Leisureplay Chart

1 Year Leisureplay Chart

1 Month Leisureplay Chart

1 Month Leisureplay Chart