Receipt of summons
26 May 2009
ACP Capital Limited (AIM: APL: the "Company") announces that IFR Capital PLC has served the Company with a summons and order of justice alleging that the Company (i) failed to perform its obligations under an Advisory Services Agreement dated 8 November 2006 and (ii) breached alleged fiduciary duties ancillary to that agreement. The action relates to events which occurred between November 2006 and March 2008 and seeks damages of an unspecified amount in excess of Euro 28 million, which allegedly continue to accrue at a daily rate of approximately Euro 50,000. The action is pending in the Royal Court of Jersey.
The Company intends to defend the action vigorously.
Enquiries
- Hugh Field, Collins Stewart Europe, +44 (0) 207 523 8350 (Nominated Adviser)
- Tim McCall/James Longfield, Hogarth Partnership, +44 (0) 207 357 9477