REG - Anexo Group PLC - Volkswagen Emissions Case

AnexoAnnouncement

26/05/2022 07:00

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RNS Number : 8427M  Anexo Group PLC  26 May 2022

     26 May 2022

 

Anexo Group plc

('Anexo' or the 'Group')

 

Volkswagen Emissions Case

 

Anexo Group plc (AIM: ANX), the specialist integrated credit hire and legal
services provider, welcomes the announcement by Volkswagen AG ('VW') and
Therium Capital Management ('Therium') of the settlement of the class action
brought against VW and its subsidiaries (the 'VW Emissions case') by Therium
on behalf of Slater & Gordon and other law firms.

 

This settlement relates to the first tranche of claims against VW. Anexo is
involved in a separate class action which covers a second, although not
subordinate, tranche of claims against VW on similar grounds. A further
announcement will be made in due course.

 

Background

 

A preliminary judgment was announced on 6 April 2020 in the High Court of
Justice regarding the class action against VW and its subsidiaries. Mr Justice
Waksman ruled that VW subverted key air pollution tests by using special
software to reduce emissions of nitrous oxides under test conditions. The High
Court ruling applied not only to VW cars but also to those manufactured by
Audi, SEAT and Skoda. VW was refused leave to appeal against this judgment but
subsequently brought an action to have the class action struck out. This was
dismissed by Mr Justice Waksman on 21 December 2021.

 

A specialist team within the Group's legal services division, Bond Turner, is
acting on behalf of a number of individuals who have registered their
intention to pursue a claim against VW. A number of these clients have been
acquired through their status as past customers of the Group and others have
contacted Bond Turner following a marketing campaign which was predominantly
conducted through social media channels. The total number of claims currently
being handled by Bond Turner stands at around 13,000. Some of the costs
involved in the acquisition of claimants have been covered by specialist
litigation funding.

 

The Group continues to pursue other emissions cases, particularly in relation
to Mercedes Benz, for which it has secured additional litigation funding.

 

For further enquiries:

 Anexo Group plc                                        +44 (0) 151 227 3008

                                                        www.anexo-group.com (http://www.anexo-group.com)
 Alan Sellers, Executive Chairman

 Mark Bringloe, Chief Financial Officer

 Nick Dashwood Brown, Head of Investor Relations

 WH Ireland Limited

 (Nominated Adviser & Joint Broker)
 Chris Hardie / Darshan Patel / Enzo Aliaj (Corporate)    +44 (0) 20 7220 1666

 Fraser Marshall / Harry Ansell (Broking)               www.whirelandplc.com/capital-markets
                                                        (https://url.avanan.click/v2/___https:/eu-west
                                                        -1.protection.sophos.com?d=whirelandplc.com&u=aHR0cDovL3d3dy53aGlyZWxhbmRwbGMuY29tL2NhcGl0YWwtbWFya2V0cw==&i=NWNkOTc2NmM5OWJhMjAxMDhmN2IyYzQ1&t=SXVCMnArbXpCUWFUR3hiN0dhVjR5Q3d4VDNrTGVJc1JZVXNxWVRpbE8zcz0=&h=0482e68813aa4f569a47aab5cdad04d1___.YXAxZTp3aGlyZWxhbmRwbGMyOmE6bzpjYjY3ZDZhNTE1ZmUwZTA0Zjg3MDFkYTJhYTAxZGMyNDo2OmU0NjA6M2ViNTgwYzkxMmM5NTFlMzUyMzM1ODhlNzcyOGFhMjZhNjI0OTkzOGRkOTkzZjQ5NTUzNjFjYzE5N2UwYTBkNzpoOlQ)

 Arden Partners plc

 (Joint Broker)                                         +44 (0) 20 7614 5900

 John Llewellyn-Lloyd / Louisa Waddell (Corporate)      www.arden-partners.co.uk (http://www.arden-partners.co.uk)

 Tim Dainton (Equity sales)

 

Notes to Editors:

Anexo is a specialist integrated credit hire and legal services provider. The
Group has created a unique business model by combining a direct capture Credit
Hire business with a wholly owned Legal Services firm. The integrated business
targets the impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.

 

Through its dedicated Credit Hire sales team and network of 1,100 plus active
introducers around the UK, Anexo provides customers with an end-to-end service
including the provision of Credit Hire vehicles, assistance with repair and
recovery, and claims management services. The Group's Legal Services division,
Bond Turner, provides the legal support to maximise the recovery of costs
through settlement or court action as well as the processing of any associated
personal injury claim.

 

The Group was admitted to trading on AIM in June 2018 with the ticker ANX. For
additional information please visit: www.anexo-group.com
(http://www.anexo-group.com/)

 

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