TIA Tialis Essential It Plc

TIDMIDE

RNS Number : 1158E

IDE Group Holdings PLC

07 February 2018

7 February 2018

IDE Group Holdings Plc

("IDE Group" or "the Company")

Claim for damages against IDE Group Holdings Plc

Further to the announcement on 1 February 2018, IDE Group Holdings Plc provides an update on the claim for substantial damages from Coreix Limited in relation to the trademark infringement case where liability was decided in 2017.

Coreix had submitted a request for a Case Management Conference at the Intellectual Property Enterprise Court ("IPEC") on 6 February 2018, however this request was adjourned for at least three months by the IPEC judge in order that the Company could be permitted sufficient time to mount a substantial defence. This was on the basis that Coreix had increased the damages claim to GBP500,000 in January 2018, the maximum under the IPEC rules, the claim having always previously stated by Coreix's solicitors to be for less than GBP10,000. The Board continue to reject the notion 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's advice remains that its potential liability in respect of Coreix's claim should be materially below GBP500,000.

The Company will provide further updates as and when appropriate.

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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(END) Dow Jones Newswires

February 07, 2018 02:00 ET (07:00 GMT)

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