Update on Earthoil Earn-out Dispute

RNS Number : 6788E

Treatt PLC

11 February 2015

 



11 February 2015

TREATT PLC

("Treatt" or "the Company")

Update on Earthoil Earn-out Dispute

It was announced on 6 December 2012 that the sellers of the Earthoil Group, which was acquired by Treatt in April 2008, had filed a claim against the Company in the Chancery Division of the High Court.  The claim relates to various matters in respect of the Earn-out, being the deferred consideration payable to the sellers in respect of the acquisition of the Earthoil Group. 

Following rulings by the High Court and Court of Appeal on issues of contractual interpretation, two of which were found in Treatt's favour and one in favour of the sellers of the Earthoil Group, the matter will now be referred to chartered accountants for determination of the substantive claim, being the quantum of the Earn-out.

Contact details

Anita Steer

Company Secretary

++ 44 1284 770028

 

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