Settlement Agreement/Deed of Amendment (6245E)

TIDMTWE

RNS Number : 6245E

Twenty PLC

08 April 2011

8 April 2011

TWENTY PLC

(AIM: TWE)

('Twenty' or 'the Company')

Settlement Agreement and

Deed of Amendment to a Sale & Purchase Agreement

The Board of Twenty Plc (AIM: TWE.L), an investment vehicle focussing on the marketing services sector, announces that it has today signed an Agreement with HOV Global Services Holdings Limited in settlement of a claim concerning breach of warranty in relation to the sale of DF Property Portfolio Limited, the holding company of Dataforce Interact Limited, during May 2010.

The Deed of Amendment signed today, 8(th) April 2011, in relation to the original agreement for the sale and purchase of shares in DF Property Portfolio Limited, which was dated 30 April 2010, (the details of which were announced on 30 April 2010), amends the sale price from the original GBP9,140,000 to GBP7,690,000 of which GBP6,190,000 was paid upon completion in May 2010. The balance of GBP2,950,000 was to be paid over two payments in July 2011 and 2012. This figures is now reduced by this Deed of Amendment to GBP1,500,000 and the repayment schedule has been re-arranged as follows :

payment of GBP300,000 on 11(th) April 2011 and deferment of GBP94,412 (payments for services due from Twenty plc to Dataforce Interact Limited)

7 quarterly payments of GBP171,428.57 on the last business day of each quarter commencing 30(th) June 2011

The Board, having taken legal advice, viewed the claim as opportunistic and did not consider that such claims had a reasonable prospect of success, but has decided that with the potentially high cost of an ongoing litigation and distraction of the senior executives that reaching this settlement was in the interests of shareholders.

Enquiries:

Twenty plc

Ian Lancaster, Chief Executive Tel: [phone]

www.twentyplc.com

Daniel Stewart & Company plc

Noelle Greenaway /Paul Shackleton Tel: [phone]

Notes to Editor:

Twenty plc is dedicated to creating a marketing services group through customer and prospect data, with data intelligence at its heart.

This information is provided by RNS

The company news service from the London Stock Exchange

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