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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Metro Baltic | LSE:MET | London | Ordinary Share | IM00B1G4ZQ34 | ORD EUR0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 21.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jun 2019 to Jun 2024
TIDMMET
RNS Number : 1073O
Metro Baltic Horizons PLC
08 October 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS IN THAT JURISDICTION
Metro Baltic Horizons plc
Issue of legal proceedings
For immediate release
8 October 2012
The board of Metro Baltic Horizons plc ("MBH" or the "Company") announces that the Company has issued legal proceedings against its former directors and professional advisers, including MCM and its principal, Mart Habakuk, and TAS (formerly Metro Frontier Limited, a wholly owned subsidiary of MCM) and its former principal, James Kenny.
Together with two if its wholly owned subsidiaries, Pedragon Investments Limited and Goldbrick Investments Limited, the Company has issued legal proceedings in the High Court of Justice of the Isle of Man against Mr Robin James, Ms Kristel Meos, Mr Gunner Okk, Tolmain Advisory Services Limited (formerly Metro Frontier Limited), Metro Capital Management AS, Mr Mart Habakuk, Mr James Kenny, Mr Paul McGuinness, M G Capital Limited and McGuinness Investments OU.
The claims are for damages for negligence, breach of contract and/or breach of fiduciary duty (as applicable) arising out of the actions of the Defendants, in particular, that the Defendants (or certain of them together or separately) between 2007 and 2009 caused the Company's subsidiaries to enter into a series of detrimental property and related financial transactions, as a result of which the Group sustained substantial losses, currently estimated to be approximately EUR26.6m.
Ronan Reid, Chairman, MBH, commented: "The launch of the legal proceedings announced today underlines our determination to recover on behalf of our shareholders the losses that were caused to Metro Baltic Horizons by reason of the actions and inaction of its former directors and professional advisers."
Enquiries
MBH Holdings PLC
Ronan Reid Tel: +353 1 6333843
Fairfax I.S. PLC Nominated Adviser
James King, David Floyd Tel: 020 7598 5368
Further Information
This announcement will be available on MBH's website http://www.metrobaltichorizons.com/ as soon as practicable in accordance with AIM Rule 26.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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