Brief: Bidstack Says Performed Obligations Under Commercial Agreement With Azerion

Bidstack

03/01/2023 07:17

Jan 3 (Reuters) - Bidstack Group PLC  BIDS.L :
    * BIDSTACK GROUP PLC  - AZERION UPDATE
    * BIDSTACK: HAS PERFORMED ITS OBLIGATIONS UNDER COMMERCIAL
AGREEMENT WITH AZERION  & ISSUED INVOICES WHICH IT SEES TO MEET
MARKET EXPECTATIONS FOR FY22
    * BIDSTACK GROUP PLC -ON DEC 30,  RECEIVED NOTICE FROM
AZERION
PURPORTING TO EXERCISE AN ALLEGED RIGHT TO TERMINATE AGREEMENT
    * BIDSTACK GROUP PLC - BIDSTACK HAS TAKEN APPROPRIATE
EXTERNAL
LEGAL ADVICE AND HAS CONCLUDED THAT AZERION HAS NO PRESENT
ENTITLEMENT TO END AGREEMENT
    * BIDSTACK GROUP PLC - BIDSTACK NOW INTENDS TO CLAIM DAMAGES
FOR
UNLAWFUL TERMINATION

Source text for Eikon:  ID:nRSC4093La 
Further company coverage:  BIDS.L 
 ((Reuters.Briefs@thomsonreuters.com;))