Recovery of Costs from Amcomri Group Limited
Source: RNS
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Press release |
21st November 2024 |
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Rockpool Acquisitions Plc
("Rockpool" or "the Company") Recovery of Costs from Amcomri Group Limited
The Company announced on 28 August 2024 that it had received a written response from Amcomri Group Limited ("Amcomri") disputing the amount claimed from them by Rockpool by way of reimbursement of costs incurred in relation to the aborted acquisition of Amcomri, from which Amcomri withdrew in April of this year. In its response Amcomri offered the sum of £370,000 in final settlement of its liability to Rockpool. The Company stated in its announcement of 28 August that it intended to pursue recovery of the full amount of £543,000 that it had demanded from Amcomri.
The parties have now reached a settlement of this matter, with Amcomri agreeing to pay to Rockpool the sum of £452,500 by no later than 16th December 2024. This payment will be in satisfaction of all the claim for costs and all Rockpool's other potential claims against Amcomri or any of the other parties to the letter of intent entered into with regards to the Amcomri acquisition.
Needless to say, the Board of Rockpool is disappointed that Amcomri has refused to meet its contractual obligations, but feel that in order to avoid the costs, time and uncertainty of pursuing Amcomri through the courts, settling in this manner is the preferable course of action. The Board believes that the settlement will also provide certainty for any alternative potential acquisition targets with whom the Board may engage in discussions. The Board of the Company will now step up its efforts to identify, and agree terms with, a suitable target.
Ends -
For further information please contact:
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Rockpool Acquisitions Plc |
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Mike Irvine, Non-Executive Director |
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Abchurch (Financial PR) |
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Julian Bosdet |
Tel: +44 (0)20 7459 4070 |
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