MET Metro Baltic

TIDMMET

RNS Number : 2581Q

Metro Baltic Horizons PLC

02 November 2012

Metro Baltic Horizons PLC

Litigation update

The Board of Metro Baltic Horizons PLC ("MBH" or the "Company") wishes to announce that earlier today Harju County Court (Tallinn Estonia) issued a judgement in favour of Pedragon Investments Ltd, a wholly owned Cypriot subsidiary of the Company. The court found the credit line agreement ("CLA") concluded on behalf of Pedragon Investments Ltd on 4 April 2009 by the Company's former investment advisor to be null and void. The judgement, once in force, releases Pedragon Investments Ltd from the liability of having to pay 20% interest to parties related to the investment manager under the terms of the CLA. The Board of MBH is pleased with this positive development, though notes that there remain a number of further steps in what is a complex litigation process and does not represent a definitive resolution to the matters that are the subject of said litigation. The Company will provide further updates as appropriate.

Enquiries

Metro Baltic Horizons PLC

Ronan Reid Tel: +353 1 6333843

S. P. Angel Corporate Finance LLP

Stuart Gledhill Tel: 020 3463 2260

This announcement will be available on MBH's website http://www.metrobaltichorizons.com/ as soon as practicable in accordance with AIM Rule 26.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDMMGMKZVGZZM

Metro Baltic (LSE:MET)
Historical Stock Chart
From May 2024 to Jun 2024

Metro Baltic (LSE:MET)
Historical Stock Chart
From Jun 2023 to Jun 2024