Announcement

RNS Number : 4531A

Guinness Peat Group PLC

30 March 2012

 



GUINNESS PEAT GROUP PLC

("GPG" or the "Company")

Announcement

In September 2007 GPG announced a decision made by the European Commission which had found, amongst other things, that between January 1977 and July 1998 Coats Holdings Limited ("Coats") and William Prym GmbH & Co. KG had reached an alleged market-sharing agreement in the haberdashery sector and imposed a fine of €110.25 million on Coats. Coats has always vigorously disputed both the factual allegations and the amount of the fine. It lodged an appeal with the EU's General Court on 3 December 2007 to annul the decision and, in the alternative, to annul or reduce the fine.

Following written pleadings and a subsequent oral hearing which took place on 7 July 2011, GPG has been informed that the General Court will hand down its judgement relating to the Coats appeal at 9.30 am on 27 June 2012.

Chris Healy

Company Secretary

Guinness Peat Group plc

Tel: [phone]

30 March 2012

Enquiry details are:

New Zealand and Australian media:      Geoff Senescall on:        [phone]

UK media:                                        Kevin Smith on:             [phone]

 

END

 

 

MSCEAEDEDFKAEFF