NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF THAT JURISDICTION
FOR IMMEDIATE RELEASE
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION
28 March 2024
FIREANGEL
SAFETY TECHNOLOGY GROUP PLC
("FireAngel" or the "Company")
STATEMENT RE: LEGAL CLAIM
FireAngel (AIM:FA), a leading
developer and supplier of home safety products, announces that
legal proceedings have been commenced against Fireangel Safety
Technology Limited, a wholly owned subsidiary of the Company (the
"Subsidiary") by Zenner International GmbH & Co KG and Minol
Messtechnick W. Lehmann GmbH & Co KG (the "Claimants") relating
to the supply by the Subsidiary of alleged defective units between
2011 and 2019.
The claim for damages was issued at
the High Court of Justice, England and Wales on 20 March 2024 and
served on the Subsidiary today. The maximum value of the claim is
€7,255,505 plus interest and legal costs. In the alternative, the
Claimants seek specific performance of obligations under an alleged
warranty to repair or replace the allegedly defective
units.
Having taken legal advice, the
Subsidiary believes the claim is without merit and will robustly
defend the proceedings.
Noting the nature of the legal
proceedings, the Company will provide further comment at the
appropriate time.
ENDS
For
further information please contact:
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FireAngel Safety Technology Group plc
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024 7771 7700
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Andrew Blazye, Non-Executive
Chair
Neil Radley, Chief Executive
Officer
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Shore Capital (Nominated adviser and broker)
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020 7408 4050
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Tom Griffiths/David Coaten/Tom
Knibbs
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Houston (Financial PR)
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0204 529 0549
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Kate Hoare/Kelsey Traynor/Ben
Robinson
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Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect
and save lives by making innovative home safety products which are
simple and accessible. FireAngel is one of the market leaders in
the European home safety products market.
FireAngel's principal products are
connected smoke alarms, CO alarms, heat alarms and accessories. The
Company has an extensive portfolio of patented intellectual
property in Europe, the US and other selected territories. Products
are sold under FireAngel's leading brands of FireAngel, FireAngel
Pro, FireAngel Specification and AngelEye.
For further product information,
please visit: www.fireangeltech.com