Settlement of Litigation

RNS Number : 9915K

Adventis Group PLC

29 April 2010

 



29 April 2010

Adventis Group Plc ("Adventis", the "Group" or the "Company")

Settlement of litigation

Adventis Group plc (Adventis - ATG), the AIM-quoted full service multimedia marketing and advertising agency, announces the settlement of litigation brought by Kenny Shovell and his company Key IP Limited against Adventis Group Plc and Charles Phillpot, the Company's chief executive. No damages were payable but both claimants and defendants will pay their own costs. The impact on the Group's pre-tax profits for 2010 will be an exceptional legal fees charge of approximately £0.310 million which is net of earlier cost provisions, VAT and insurance refunds. The remaining cash impact will be approximately £0.180 million.

-ENDS-

Enquiries:

Adventis Group Plc
Charles Phillpot, CEO	020 7034 4750
Peter Linnell, Finance Director	020 7034 4795
Arbuthnot Securities Limited
Tom Griffiths	020 7012 2000

Notes to Editors:

Adventis Group is a marketing services and advertising agency.  Its core areas of activity are healthcare, technology & telecoms, media and property.  Subsidiary companies include: Adventis Health, Second2, bChannels, Adventis Media and Adventis Property.

For full details see www.adventis.co.uk

 

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