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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
OEM | LSE:OEM | London | Ordinary Share | GB0006572241 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:8298Y OEM PLC 18 May 2004 18 May 2004 OEM plc ("OEM" or "the Company") Further to the announcement made on 4 May 2004, the directors of OEM announce that they have commenced court proceedings against the estate of the late Brian Schneider, former Chief Executive of the Company, Mrs T Schneider and others. The Company alleges that the late Mr Schneider improperly used monies for his own benefit causing the Company loss and is seeking to recover #3.1 million approximately. This figure may increase. The current court proceedings are to recover the above loss. No time scale can yet be given as the proceedings have only just begun. In addition a pre-action letter has been sent to the Company's Auditors, Baker Tilly, in respect of the above losses. As previously announced, the directors believe that the amounts in question are material to OEM, and may affect the financial position of the Company although the effect on the Company may depend upon the conclusion of the proceedings and the claim against Baker Tilly. As a consequence the Company is not in a position to publish its interim accounts at present. A further announcement in respect of this matter will be made in due course. This information is provided by RNS The company news service from the London Stock Exchange END SRSUWVBRSBRVAAR
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