REG - Big Technologies PLC - Further Litigation Update

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RNS Number : 3223P  Big Technologies PLC  19 January 2026

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR

 

Big Technologies plc

("Big Technologies" or "the Company" and, together with its subsidiaries, the
"Group")

Further Litigation Update

 

·      Full and final settlement of the Buddi Litigation

·      Continued mediation, with a view to settlement, with Sara Murray
and associated parties

 

Buddi Litigation

Rickmansworth - 19 January 2026 - Big Technologies plc (AIM: BIG), a leading
provider of electronic monitoring solutions, is pleased to announce that the
Group has reached full and final settlement with the Claimants (defined below)
in respect of the Buddi Litigation (further details of which are set out in
the "Litigation Update" announcement that was released at 7:00 a.m. on 12
September 2025 (the "12 September Announcement").

Background

A petition and claim were filed in the High Court of Justice of England and
Wales on 2(nd) August 2023 and 22(nd) November 2023 respectively alleging
that, at the time of the acquisition of Buddi Limited ("Buddi") by the Company
in 2018, certain shareholders in Buddi representing aggregate interests of
approximately 7.9% (the "Claimants") were wrongly forced (or induced by
misrepresentation) to sell their shares in Buddi and were not given the
opportunity to reinvest into Big Technologies (the "Buddi Litigation").

Settlement

In return for full and final settlement of the Buddi Litigation, the Group has
agreed to pay a total of £38.5m cash to the Claimants. This payment will be
split, with £31.5m payable immediately, and the remaining £7.0m payable in
eighteen monthly instalments.

As of 30 June 2025, the Group had provided £35.0m in respect of an outflow in
relation to the Buddi Litigation.

Post payment of the initial £31.5m settlement amount, the Group would have
had cash balances of £61.9m as at 31 December 2025.

 

Continued mediation, with a view to settlement, with Sara Murray and
associated parties

As previously stated, the Company has offered that the claims it has commenced
against Sara Murray and others (detailed in the 12 September Announcement)
(the "SM Proceedings") be addressed through negotiation (whether via mediation
or otherwise) as an alternative route to what will otherwise be protracted
litigation. The Company has commenced such discussions with Sara Murray and
hopes to be able to progress those further with a view to achieving a
consensual outcome to the SM Proceedings on acceptable terms.

 

Sangita Shah, Big Technologies Interim Chair, said: "Today's settlement is a
positive outcome to the protracted Buddi Litigation which draws a line under
the significant uncertainty that the Group has faced.

As a Board, we remain committed to continuing discussions directly with Sara
Murray in order to resolve the SM Proceedings without further protracted
litigation, with a view to reaching an acceptable settlement."

The Company will provide further updates as appropriate.

 

-Ends-

 

 

For further information please contact:

 Big Technologies plc                                +44 (0) 19 2360 1910
 Sangita Shah (Interim Chair)
 Ian Johnson (Chief Executive Officer)

 Zeus (Nominated Adviser and Joint Broker)            +44 (0) 203 829 5000
 Dan Bate / Kieran Russell (Investment Banking)
 Benjamin Robertson (Equity Capital Markets)

 Singer Capital Markets (Joint Broker)               +44 (0) 207 496 3000
 James Moat / James Todd (Investment Banking)

 

About Big Technologies

Our mission is to deliver innovative, high-quality electronic monitoring
solutions that combine advanced hardware and software to support monitoring of
individuals in our core criminal justice business. Big Technologies is a
market leader in the electronic monitoring industry, operating under the
trusted 'Buddi' brand. Through its integrated technology platform, Buddi
offers state-of-the-art Electronic Monitoring solutions on a
subscription-based, SaaS-like model. This platform is highly flexible and
scalable, enabling tailored deployments across diverse use cases and
geographies.

For more information, please visit www.buddi.com (http://www.buddi.com)

Forward-looking statements

This announcement contains certain projections and other forward-looking
statements with respect to the financial condition, results of operations,
businesses and prospects of Big Technologies PLC. The use of terms such as
"may", "will", "should", "expect", "anticipate", "project", "estimate",
"intend", "continue", "target" or "believe" and similar expressions (or the
negatives thereof) are generally intended to identify forward-looking
statements. These statements are based on current expectations and involve
risk and uncertainty because they relate to events and depend upon
circumstances that may or may not occur in the future. There are a number of
factors that could cause actual results or developments to differ materially
from those expressed or implied by these forward-looking statements. Any of
the assumptions underlying these forward-looking statements could prove
inaccurate or incorrect and therefore any results contemplated in the
forward-looking statements may not actually be achieved. Nothing contained in
this announcement should be construed as a profit forecast or profit estimate.
Investors or other recipients are cautioned not to place undue reliance on any
forward-looking statements contained herein. Big Technologies PLC undertakes
no obligation to update or revise (publicly or otherwise) any forward-looking
statement, whether as a result of new information, future events or other
circumstances.

 

 

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