Big Technologies PLC Statement re legal claim (3586I)
04 Agosto 2023 - 4:57AM
UK Regulatory
TIDMBIG
RNS Number : 3586I
Big Technologies PLC
04 August 2023
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
4 August 2023
Big Technologies plc
("Big Technologies" or the "Company")
Legal claim notified
Big Technologies plc, the UK-based, remote people monitoring
technology company, announces that legal proceedings have been
commenced against the Company in relation to the matters set out
further below. This claim has been filed with the High Court of
Justice England and Wales on 2(nd) August 2023 (the "Claim").
As set out within the admission document in July 2021 (the
"Admission Document"), a letter of potential claim had been
received from a small number of former shareholders of Buddi
Limited, one of the subsidiaries of the Group, in respect of the
operation of a drag mechanism contained in the articles of Buddi
Limited that was utilised in connection with the acquisition of
Buddi Limited, dating back to May 2018.
As was set out on page 138 of the Admission Document, the
Company sought legal advice from a number of sources, including
solicitors who advised the Company on the operation of the drag
mechanism, its solicitors on the placing at IPO and Queen's
Counsel. The conclusions were, that having reviewed that advice
(which is the subject of legal privilege which is not waived), that
the Company is satisfied that the drag mechanism was exercised
properly in accordance with its terms and that any claim brought by
the former Buddi Limited shareholders would be likely to be
defeated.
The Company has taken advice from its lawyers and from King's
Counsel and remains confident that the Claim lacks legal and
factual merit and intends to defend its position robustly.
Noting that matters are now subject to legal proceedings, the
Company will provide further comment at the appropriate time.
For further information please contact:
Big Technologies +44 (0) 19 2360 1910
Sara Murray (Chief Executive Officer)
Daren Morris (Chief Financial Officer)
Zeus (Nominated Adviser and Sole Broker) +44 (0) 20 3829 5000
Jamie Peel / Dan Bate / Kieran Russell (Investment
Banking)
Benjamin Robertson (Equity Capital Markets)
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
STRFIFEDTVISIIV
(END) Dow Jones Newswires
August 04, 2023 03:57 ET (07:57 GMT)
Big Technologies (LSE:BIG)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Big Technologies (LSE:BIG)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024