Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Catalyst Media Group Plc LSE:CMX London Ordinary Share GB00B282R334 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 53.00 52.00 54.00 53.00 53.00 53.00 0.00 07:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 0.0 -0.6 -2.8 - 11

Catalyst Media Group PLC Update regarding SIS litigation

08/01/2020 3:06pm

UK Regulatory (RNS & others)


Catalyst Media (LSE:CMX)
Historical Stock Chart


From Oct 2019 to Oct 2020

Click Here for more Catalyst Media Charts.

TIDMCMX

RNS Number : 1966Z

Catalyst Media Group PLC

08 January 2020

8 January 2020

Catalyst Media Group Plc

("CMG", "Catalyst", "Company" or the "Group")

Update regarding SIS litigation

The Company provides the following update in respect of Sports Information Services (Holdings) Limited ("SIS") in which CMG has an approximate 20.54% interest.

Further to the Company's announcements of 8 May 2019 and 10 July 2019, regarding the judgment and subsequent grants of leave to appeal elements of the judgment in respect of the case brought by The Racing Partnership Limited and others (together the "Claimants") against SIS's subsidiary, Sports Information Services Limited ("SISL"), and others, SIS has informed the Company that the Claimants have now filed at the High Court particulars of the damages sought. The Claimants are seeking damages in excess of GBP40 million.

The Company understands that SISL is reviewing the particulars of the damages sought with its legal advisers and will be preparing a robust defence in due course, in tandem with the ongoing appeal. The Company has been informed that SISL's management firmly believe that in the event that damages are awarded to the Claimants, any final award of damages would be considerably less than the amount claimed.

SIS continues to hold a high level of cash of approximately GBP66 million. In addition, the Company has been advised that should a final award of damages be made at the level the Claimants seek, the likelihood of which SISL management considers remote, there is sufficient cash available to meet such award, without impacting on the current operational requirements of SIS's business.

CMG will make further announcements in relation to the case as appropriate.

Enquiries:

Catalyst Media Group Plc

   Michael Rosenberg, Non-executive Chairman                               07785 727 595 
   Melvin Lawson, Non-executive Director                                         020 7734 8111 
   Strand Hanson Limited                                                                020 7409 3494 

James Harris

Richard Tulloch

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCUWRVRROUARAR

(END) Dow Jones Newswires

January 08, 2020 10:06 ET (15:06 GMT)

1 Year Catalyst Media Chart

1 Year Catalyst Media Chart

1 Month Catalyst Media Chart

1 Month Catalyst Media Chart
ADVFN Advertorial
Your Recent History
LSE
CMX
Catalyst M..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20201025 14:34:50