WTG Watchstone Group Plc

TIDMWTG

RNS Number : 0244X

Watchstone Group PLC

16 February 2017

Watchstone Group plc

("Watchstone" or the "Group")

Issue of claim by Hubio Solutions Inc in respect of agreement with Aviva Canada Inc

Watchstone Group plc (LON:WTG) announces that its wholly owned subsidiary Hubio Solutions Inc ("Hubio Solutions"), a Canadian corporation, has issued a claim in the Ontario Superior Court of Justice against Aviva Canada Inc ("Aviva Canada") in respect of breach of contract and unpaid amounts due under an agreement entered into by the parties in October 2014 and announced on 21 October 2014 ("Agreement").

Aviva Canada has notified Hubio Solutions that it has issued a claim against Hubio Solutions and Ingenie (Canada) Inc (despite the fact that it was not party to the Agreement) in respect of this Agreement and otherwise.

Watchstone is confident in the strength of the Group's case and will defend any claim robustly. The Group is disappointed that having worked closely with Aviva Canada for many years, Aviva Canada has chosen not to fulfil its obligations under the Agreement or make the payments due as invoiced.

Watchstone will make further announcements in due course, as appropriate.

For further information:

 
 Watchstone Group plc                         Tel: 03333 448048 
 
   Peel Hunt LLP, Nominated Adviser          Tel: 020 7418 
   and broker                                    8900 
 Dan Webster 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 16, 2017 02:00 ET (07:00 GMT)

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