REG - Safestyle UK PLC - Settlement of Litigation

Safestyle UKAnnouncement

03/09/2018 07:30

RNS Number : 4918Z
Safestyle UK PLC
03 September 2018
 


3 September 2018
 
Safestyle UK plc
 
Settlement of Litigation
Safestyle UK PLC ("Safestyle UK" or the "Company") today announces the settlement of its claims against NIAMAC Developments Ltd (trading as SafeGlaze UK) for alleged trade mark infringement, passing off, misuse of confidential information, malicious falsehood and various other matters. As a result of interim applications to the court, a series of injunctions were put in place in May and in July.
In the settlement, NIAMAC has agreed that the existing court injunctions will be replaced by appropriate undertakings to the court. The settlement ensures that there will be no misuse of confidential information or misleading statements to customers. The settlement governs future relations between Safestyle UK and NIAMAC to prevent the possibility of any acts of intimidation or harassment of Safestyle UK representatives.  In addition, SafeGlaze UK has agreed to change trading name and rebrand fully within an agreed period of time.
Further details of the settlement will remain confidential.
The Board of Safestyle is pleased that the Company has reached a settlement with NIAMAC. Safestyle UK remains the UK's leading window company and the management team looks forward to refocusing its efforts with this case now successfully concluded and behind them.
Safestyle UK PLC will announce its Interim Results on 20 September 2018.
 
Enquiries:
 




  Safestyle UK plc
  Mike Gallacher, Chief Executive Officer
  Rob Neale, Chief Financial Officer
 


via FTI Consulting




  Zeus Capital (Nominated Adviser & Joint Broker)
  Nick How / Dominic King / Richard Short
 


Tel: 0203 829 5000




  Liberum Capital Limited (Joint Broker)
  Neil Patel / Jamie Richards
 


Tel: 0203 100 2100




  FTI Consulting (Financial PR)
  Alex Beagley / James Styles / Laura Saraby
 


Tel: 0203 727 1000




 
About Safestyle UK plc
The Group is the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market. For more information please visit www.safestyleukplc.co.uk or www.safestyle-windows.co.uk.
 




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