Successful claim under warranty insurance

RNS Number : 6384Z

RWS Holdings PLC

22 September 2020

 

For immediate release   22 September 2020

RWS Holdings plc ("the Group")

Successful claim under warranty insurance

RWS Holdings plc ("RWS", "the Group"), one of the world's leading language, intellectual property support services and localization providers, today confirms the receipt of the sum of $11.65m following a successful claim under the terms of the warranty insurance taken out as part of the Moravia acquisition in November 2017.

Richard Thompson, Chief Executive Officer, RWS Holdings commented:

"This claim relates to certain information that was omitted ahead of the acquisition of Moravia. The information would not have altered the decision to acquire Moravia, which has been very successful.  Nevertheless, we did have cause to claim under the warranty insurance and we are pleased to have received this settlement.

"Moravia has proven to be an excellent acquisition for the Group and we continue to grow the business by providing leading localisation solutions that enable some of the largest companies in the world to deliver their content globally and with brand consistency."

For further information, please contact:

RWS Holdings plc Andrew Brode, Chairman Richard Thompson, Chief Executive Officer Des Glass, Chief Financial Officer	01753 480796
MHP (Financial PR advisor) Katie Hunt / Simon Hockridge	[e-mail] 0203 128 8100
Numis (Nomad & Joint Broker) Stuart Skinner / Kevin Cruickshank / Will Baunton	0207 260 1000
Berenberg (Joint Broker) Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff	0203 207 7800

About RWS

RWS is the world's leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), a market leader in life sciences translations and linguistic validation, a leading localization provider, and a high-level specialist language service provider in other technical areas, providing for the diverse needs of a blue-chip multinational client base spanning Europe, North America and Asia.

RWS is based in the UK, with offices across five continents. The company is listed on AIM, the London Stock Exchange regulated market (RWS.L).

For further information, please visit: www.rws.com .

 

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