StatPro Group PLC SiSoft update (4221Y)
May 08 2019 - 10:36AM
UK Regulatory
TIDMSOG
RNS Number : 4221Y
StatPro Group PLC
08 May 2019
8 May 2019
StatPro Group PLC
SiSoft update
Further to the announcement dated 16 July 2013, StatPro Group
plc ("StatPro", "the Group", AIM: SOG), the AIM listed provider of
cloud-based portfolio analytics and asset pricing services for the
global asset management industry, announces that in the legal case
between the Group and certain of the shareholders in SiSoft Sarl
(the "SiSoft Shareholders"), initiated in 2011, the Court of Appeal
of Paris found in favour of the SiSoft Shareholders and partially
overturned the original ruling of the Commercial Court of Paris in
January 2017 in favour of StatPro.
Consequently, StatPro is required to pay the SiSoft Shareholders
approximately EUR835,000 in additional consideration and a further
EUR133,000 in expenses. The formal notification of the judgement
has yet to be received by the Group. In addition, StatPro will be
charged with the payment of interest on the amount of the
additional consideration, at the legal applicable rate, calculated
to the date StatPro will pay the said amount.
StatPro strongly rejects the interpretation of the agreement by
the Appeal Court and is considering an appeal to the French Supreme
Court ("Cour de cassation").
This ruling will not impact StatPro's adjusted profitability.
The additional charge will be reflected in the 2019 accounts.
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
Enquiries:
StatPro Group plc
Justin Wheatley, Chief Executive +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Panmure Gordon - Nomad and Broker
Corporate Finance - Freddy Crossley
/ Fabien Holler +44 (0) 20 7886 2500
Corporate Broking -James Stearns
Instinctif Partners
Adrian Duffield/Kay Larsen/Chantal
Woolcock +44 (0) 20 7457 2020
About StatPro
StatPro Group (www.statpro.com) provides cloud-based portfolio
analytics, asset data services and data management tools for the
global asset management industry and asset management service
providers.
The Group has 10 offices in Europe, North America, South Africa
and Australia, servicing around 500 clients in 40 countries. It is
organised into three divisions: Revolution, Source: StatPro and
Infovest.
Revolution is a global provider of award-winning portfolio
analytics solutions. The cloud-based platform offers vital analysis
of portfolio performance, attribution, risk and compliance.
Revolution helps clients reduce costs, improve client communication
and control investment decisions.
Source: StatPro is a global market data business and provides
Data-as-a-Service to Revolution to enable analytics. The division's
integrated and global data coverage includes millions of securities
covering the full range of financial instruments and
benchmarks.
Infovest, supplies data management solutions for the global
asset management market, including data warehouse technology, ETL,
compliance and reporting tools as well as portfolio management
solutions.
StatPro Group plc shares are listed on AIM.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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END
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