Settlement of Litigation

RNS Number : 4918Z

Safestyle UK PLC

03 September 2018

 

3 September 2018

Safestyle UK plc

Settlement of Litigation

Safestyle UK PLC ("Safestyle UK" or the "Company") today announces the settlement of its claims against NIAMAC Developments Ltd (trading as SafeGlaze UK) for alleged trade mark infringement, passing off, misuse of confidential information, malicious falsehood and various other matters. As a result of interim applications to the court, a series of injunctions were put in place in May and in July.

In the settlement, NIAMAC has agreed that the existing court injunctions will be replaced by appropriate undertakings to the court. The settlement ensures that there will be no misuse of confidential information or misleading statements to customers. The settlement governs future relations between Safestyle UK and NIAMAC to prevent the possibility of any acts of intimidation or harassment of Safestyle UK representatives.  In addition, SafeGlaze UK has agreed to change trading name and rebrand fully within an agreed period of time.

Further details of the settlement will remain confidential.

The Board of Safestyle is pleased that the Company has reached a settlement with NIAMAC. Safestyle UK remains the UK's leading window company and the management team looks forward to refocusing its efforts with this case now successfully concluded and behind them.

Safestyle UK PLC will announce its Interim Results on 20 September 2018.

Enquiries:

Safestyle UK plc   Mike Gallacher, Chief Executive Officer   Rob Neale, Chief Financial Officer	via FTI Consulting
Zeus Capital (Nominated Adviser & Joint Broker)   Nick How / Dominic King / Richard Short	Tel: [phone]
Liberum Capital Limited (Joint Broker)   Neil Patel / Jamie Richards	Tel: [phone]
FTI Consulting (Financial PR)   Alex Beagley / James Styles / Laura Saraby	Tel: [phone]

About Safestyle UK plc

The Group is the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market. For more information please visit www.safestyleukplc.co.uk or www.safestyle-windows.co.uk.

 

END

 

 

MSCLTMPTMBMMBJP