Commencement of legal proceedings

RNS Number : 4347A

AorTech International PLC

20 March 2013

 

AorTech International plc ("AorTech")

Commencement of legal proceedings

AorTech announces the commencement of legal proceedings for the recovery of sums due by SynCardia Systems, Inc. via arbitration.  This action relates to invoices submitted for fees and costs together with accrued interest, in accordance with terms of the contracts between the two companies.

AorTech's legal action and claims are for the recovery of approximately US$2.5 million and AorTech is confident of its legal position in this matter and will provide further updates as and when appropriate.

Enquiries:

AorTech International plc

Bill Brown, Chairman

Tel: [phone]

finnCap

Stuart Andrews/Rose Herbert
finnCap as Nominated Adviser
Tel: [phone]

 

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