PCI-PAL PLC Successful Completion of Form of Order Hearing (3807X)
20 Diciembre 2023 - 1:00AM
UK Regulatory
TIDMPCIP
RNS Number : 3807X
PCI-PAL PLC
20 December 2023
20 December 2023
PCI-PAL PLC
("PCI Pal", the "Company" or "the Group")
Successful Completion of Form of Order Hearing
Further to the announcement on 19 December 2023, PCI-PAL PLC
(AIM: PCIP), the global cloud provider of secure payment solutions
for business communications, provides an update following the
conclusion of the Form of Order hearing held on Monday 18(th)
December.
The Form of Order was sealed by the court at around midday on
Tuesday 19(th) December 2023, and the Company draws investors
attention to the following highlights:
-- Sycurio's application for permission to appeal the ruling was
refused by the judge, Mrs Justice Bacon. Sycurio are allowed to
seek permission to appeal from the Court of Appeal.
-- Mrs Justice Bacon ordered that Sycurio shall pay PCI Pal
GBP1.06 million by way of an interim payment on account of costs.
The timing of this payment to PCI Pal will not become clear until
late January or Early February and will be subject to any further
decisions by the Court of Appeal in that time.
-- Mrs Justice Bacon also ordered that interest be applied to
all amounts to be paid to PCI Pal.
There are a number of other aspects to the Form of Order which
the Company will work through with its lawyers in the coming weeks
and the Company expects to be able to provide a further positive
update to investors towards the end of January 2024 / early
February 2024.
For further information, please contact:
PCI-PAL PLC Via Walbrook PR
James Barham - Chief Executive Officer
William Good - Chief Financial Officer
Cavendish Capital Market Limited (Nominated
Adviser and Broker) +44 (0) 20 7227 0500
Marc Milmo/Simon Hicks/Fergus Sullivan (Corporate
Finance)
S unila De Silva (Corporate Broking)
Walbrook PR +44 (0) 20 7933 8780
Tom Cooper/Paul Vann +44 (0) 797 122 1972
tom.cooper@walbrookpr.com
About PCI Pal:
PCI Pal is a leading provider of Software-as-a-Service ("SaaS")
solutions that empower companies to take payments from their
customers securely, adhere to strict industry governance, and
remove their business from the significant risks posed by
non-compliance and data loss. Our products secure payments and data
in any business communications environment including voice, chat,
social, email, and contact centre. We are integrated to, and resold
by, some of the worlds' leading business communications vendors, as
well as major payment service providers.
The entirety of our product-base is available from our global
cloud platform hosted in Amazon Web Services ("AWS"), with regional
instances across EMEA, North America, and ANZ.
For more information visit www.pcipal.com or follow the team on
Linkedin: https://www.linkedin.com/company/pci-pal/
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END
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