REG - Rockpool Acq Plc - Recovery of Costs from Amcomri Group Limited

Rockpool AcquisitionsAnnouncement

21/11/2024 13:00

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RNS Number : 2030N  Rockpool Acquisitions PLC  21 November 2024

 

 Press release    21st November 2024

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 which is part of domestic UK law pursuant to the Market
Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) ("UK MAR"). Upon the
publication of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

 

Rockpool Acquisitions Plc

("Rockpool" or "the Company") Recovery of Costs from Amcomri Group Limited

 

The Company announced on 28 August 2024 that it had received a written
response from Amcomri Group Limited ("Amcomri") disputing the amount claimed
from them by Rockpool by way of reimbursement of costs incurred in relation to
the aborted acquisition of Amcomri, from which Amcomri withdrew in April of
this year.  In its response Amcomri offered the sum of £370,000 in final
settlement of its liability to Rockpool.  The Company stated in its
announcement of 28 August that it intended to pursue recovery of the full
amount of £543,000 that it had demanded from Amcomri.

 

The parties have now reached a settlement of this matter, with Amcomri
agreeing to pay to Rockpool the sum of £452,500 by no later than 16(th)
December 2024.  This payment will be in satisfaction of all the claim for
costs and all Rockpool's other potential claims against Amcomri or any of the
other parties to the letter of intent entered into with regards to the Amcomri
acquisition.

 

Needless to say, the Board of Rockpool is disappointed that Amcomri has
refused to meet its contractual obligations, but feel that in order to avoid
the costs, time and uncertainty of pursuing Amcomri through the courts,
settling in this manner is the preferable course of action.  The Board
believes that the settlement will also provide certainty for any alternative
potential acquisition targets with whom the Board may engage in discussions.
The Board of the Company will now step up its efforts to identify, and agree
terms with, a suitable target.

 

 

Ends -

 

For further information please contact:

 

 

 Rockpool Acquisitions Plc
 Mike Irvine, Non-Executive Director  mike@cordovancapital.com (mailto:mike@cordovancapital.com)

                                      www.rockpoolacquisitions.plc.uk (http://www.rockpoolacquisitions.plc.uk/)

 

 

 Abchurch (Financial PR)
 Julian Bosdet            Tel: +44 (0)20 7459 4070

                          julian.bosdet@abchurch-group.com (mailto:julian.bosdet@abchurch-group.com)

 

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