REG - PCI-PAL PLC - UK Patent Case Update

PCI- PALAnnouncement

26/01/2024 13:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240126:nRSZ1011Ba&default-theme=true

RNS Number : 1011B  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)  +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/Paul Vann                                             +44 (0) 797 122 1972
                                                                  tom.cooper@walbrookpr.com (mailto:tom.cooper@walbrookpr.com)

 

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/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSEMFEMELSELF