Clarkson (Horace) PLC
15 June 2000
HORACE CLARKSON WINS SUBSTANTIAL DAMAGES
FROM SIMPSON SPENCE & YOUNG
Horace Clarkson PLC ('Clarksons'), the leading international shipbroking and
services group, announces today that it has settled the pending court case
with shipbroking firm Simpson Spence & Young ('Simpsons'). The decision
follows an approach from 'Simpsons' offering substantial damages as
compensation for the circumstances surrounding the departure of members of
Clarksons staff to Simpsons.
Clarksons began legal proceedings on the 9 May 2000, following the departure
of two members of staff from their Australian subsidiary, Austral Chartering,
who specialised in sugar broking.
The terms of the settlement are required to be kept confidential and for this
reason cannot be disclosed.
Gary Weston, Director of Horace Clarkson said ' Whilst we were prepared to
settle this action in court, and were confident of a positive outcome for
Clarksons, we can now put this unfortunate episode behind us and can
concentrate on growing our Australian business.'
Graham Michalanney, Managing Director, Austral Chartering, said ' In business
terms the damage caused is limited to the loss of one client and we remain
extremely confident about the future. In the past year the company has far
exceeded our expectations regarding new business and we have a very strong
team with which to continue to grow the business further.'
For further information, please contact:-
Rob Ward Horace Clarkson plc 0207 334 0000
Rebecca Sly Citigate Dewe Rogerson 0207 282 2939
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.