26 January 2024
PCI-PAL
PLC
("PCI
Pal", the "Company" or "the Group")
UK Patent
Case Update
Further to the announcement on 20
December 2023, PCI-PAL PLC (AIM: PCIP), the global cloud provider
of secure payment solutions for business communications provides an
update following its successful victory in the UK High Court of the
patent case with its competitor, Sycurio Limited.
Having been refused permission to
appeal by the trial judge, Mrs Justice Bacon, Sycurio requested
permission to appeal the UK judgement from the Court of
Appeal. On 25 January 2024, the Court of Appeal granted
permission for the appeal to be heard. This decision by the
Court of Appeal was not unexpected, nor is it unusual in such
cases.
The appeal follows PCI Pal's
resounding victory at trial, so the Company will of course contest
it and strongly believes it has no merit and has been brought in a
continuing attempt by Sycurio to disrupt and put pressure on PCI
Pal.
Sycurio's application to stay the
interim payment of PCI Pal's costs (£1.06 million) will be heard in
the coming weeks by the Court of Appeal. The payment is
currently being held by the Company's lawyers in their client
account.
For further information, please
contact:
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PCI-PAL PLC
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Via Walbrook PR
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James Barham - Chief Executive
Officer
William Good - Chief Financial
Officer
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Cavendish Capital Market Limited (Nominated Adviser and Broker)
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+44 (0) 20 7227 0500
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Marc Milmo/Simon Hicks/Fergus
Sullivan (Corporate Finance)
Sunila De
Silva (Corporate Broking)
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Walbrook PR
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+44 (0) 20 7933 8780
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Tom Cooper/Paul Vann
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+44 (0) 797 122 1972
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tom.cooper@walbrookpr.com
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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/