UK Patent Case Update

PCI-PAL PLC

26 January 2024

 

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:

PCI-PAL PLC	Via Walbrook PR
James Barham - Chief Executive Officer William Good - Chief Financial Officer
Cavendish Capital Market Limited (Nominated Adviser and Broker)	[phone]
Marc Milmo/Simon Hicks/Fergus Sullivan (Corporate Finance) Sunila De Silva (Corporate Broking)
Walbrook PR	[phone]
Tom Cooper/Paul Vann	[phone]
	[e-mail]

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/

 

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