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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 : 4487D
Metro Baltic Horizons PLC
28 March 2014
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 (MET.L)
("Metro Baltic Horizons" or the "Company")
28 March 2014
Settlement Agreement reached
For immediate release
The board of Metro Baltic Horizons announces that the Company has reached a settlement with former Company directors, Robin James, Kristel Meos and Gunnar Okk (together, the "Former Directors").
On 1 October 2012, the Company and its then subsidiaries Pedragon Investments Limited and Goldbrick Investments Limited issued proceedings against the Company's former advisors Tolmain Advisory Services Limited (formerly Metro Frontier Limited), Metro Capital Management AS, Mart Habakuk, James Kenny, Paul McGuinness, MG Capital Limited and McGuinness Investments OU (the "Former Advisors"), and the Former Directors in the High Court of Justice of the Isle of Man (the "Proceedings").
The Company and the Former Directors have agreed a final settlement in relation to the Proceedings. In entering this settlement the Former Directors have neither admitted liability nor wrongdoing. Under the terms of the settlement agreement, the Company has agreed to dismiss all claims against the Former Directors, and the Company will receive GBP2,500,000.
The Proceedings continue against the Former Advisors. The Board will revert at the time of the Company's AGM to provide further detail in regard of any potential distribution as well as the continued listing of the Company.
Enquiries
MBH Holdings PLC
Ronan Reid Tel: +353 1 6333843
S. P. Angel Corporate Finance LLP
Stuart Gledhill Tel: 020 3463 2260
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.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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