TIDMIDE

RNS Number : 5952D

IDE Group Holdings PLC

01 February 2018

IDE Group Holdings Plc

("IDE Group" or "the Company")

Claim for damages against IDE Group Holdings Plc

Further to the announcements on 11 July, 1 August, 22 and 30 November 2017, IDE Group Holdings Plc announces that the Company has received a claim for substantial damages from Coreix Limited ("Coreix") in relation to the trademark infringement case where liability was decided in 2017.

Coreix's claim has always been stated by Coreix to be for less than GBP10,000. They have now sought to increase that amount to GBP500,000, which is the maximum under the Rules of the Intellectual Property Enterprise Court that they can claim in that Court. The Board do not accept that the liability exceeds the amount originally stated and will argue that Coreix's claim should not exceed GBP10,000 and, even if that is not accepted by the Court, the Company has been advised that its potential liability in respect of Coreix's claim should be materially below GBP500,000.

This announcement contains inside information for the purposes of article 7 of EU Regulation 596/2014.

For more information please contact:

 
 IDE Group Holdings Plc          Tel: +44 (0)344 
  Andy Ross, CEO                  874 1000 
  Julian Phipps, CFO 
 N+1 Singer                      Tel: +44 (0)207 
  Nominated Adviser and Broker    496 3000 
  James Maxwell 
  Jen Boorer 
 Alma PR Limited                 Tel: +44 (0) 208 
  Rebecca Sanders-Hewett          004 4218 
  Robyn Fisher

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 01, 2018 02:15 ET (07:15 GMT)

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