REG - PCI-PAL PLC - Total Victory for PCI Pal in UK High Court

PCI- PALAnnouncement

25/09/2023 17:30

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RNS Number : 5839N  PCI-PAL PLC  25 September 2023

PCI-PAL PLC

25 September 2023

 

 

PCI-PAL PLC

("PCI Pal", "the Company" or "the Group")

 

Total Victory for PCI Pal in UK High Court Patent Case Proceedings

 

PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions
for business communications, is pleased to announce that it has
comprehensively defeated the unfounded patent infringement suit brought by its
competitor Sycurio Limited ("Sycurio") at the UK High Court.

 

Judgment was handed down after close of business today and will be available
to read when the court publishes it online at
https://www.judiciary.uk/judgments/ (https://www.judiciary.uk/judgments/) .

 

Mrs Justice Bacon held that Sycurio's patent was invalid due to obviousness
from two sources of prior art. Furthermore, Mrs Justice Bacon decided that
even if the patent had been valid, PCI Pal's Agent Assist solution did not
infringe the patent.

 

The Company intends to make a further update to investors in the coming days.
This will include an update as to the expected timing of the release of the
Company's annual accounts for FY23 which, as previously announced, have been
delayed as a result of their proximity to the UK High Court's ruling.

 

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.

 

For further information, please contact:

 

 PCI-PAL PLC                                                       Via Walbrook PR
 James Barham - Chief Executive Officer

 William Good - Chief Financial Officer

 Cavendish Capital Markets Limited (Nominated Adviser and Broker)  +44 (0) 20 7227 0500
 Marc Milmo/Simon Hicks/Fergus Sullivan (Corporate Finance)

 Sunila de Silva (Corporate Broking)

 Walbrook PR                                                       +44 (0) 20 7933 8780
 Tom Cooper/Nick Rome                                              +44 (0) 797 122 1972
                                                                   PCIPAL@walbrookpr.com

The Group's Nominated Adviser and Broker, finnCap Ltd, has now changed its
name to Cavendish Capital Markets Ltd following completion of its own
corporate merger.

 

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 (http://www.pcipal.com) or follow
the team on Linkedin: https://www.linkedin.com/company/pci-pal/
(https://www.linkedin.com/company/pci-pal/)

 

 

 

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