News
Statement re Press Comment
08 February 2007
The Company notes recent press comment regarding the ongoing litigation between, inter alia, Hanco and Cashbox ATM Systems Ltd ("ATM"). The Company confirms that on 29 November 2006, summary judgment was handed down against Carl Thomas, the Company's CEO, and ATM relating to certain claims forming part of the litigation and an interim award application has been made by Hanco. ATM and Carl Thomas intend to appeal the summary judgment and will vigorously defend the interim award application. The next hearing on the case is currently expected on 21 February 2007.
It should be noted that as set out in the Company's Admission Document dated 24 March 2006, an unlimited indemnity, in favour of the Company and ATM, has been given by Anthony Sharp, Chairman, and Carl Thomas. The further indemnity from KKR Investment Management SA has not yet been put in place.
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