Update on litigation (7207F)
19 Juni 2012 - 5:48PM
UK Regulatory
TIDMMBW
RNS Number : 7207F
Mobilewave Group PLC
19 June 2012
19 June 2012
MobileWave Group plc
("MobileWave" or the "Company")
Update on litigation
The Board of MobileWave Group plc wish to advise shareholders
that the Company's application to the Bankruptcy Division of the
High Court for the bankruptcy of Devin Narang of Delhi, India for
the non payment of the outstanding debt of GBP1,045,011.11 he owes
to the Company, was scheduled for today. The court ordered that
Devin Narang now has until 4:30pm on 26 June 2012 to file any
evidence in opposition to the petition. Should he fail to do this,
he will be barred from defending the action which is now set down
for 10:30am on 27 June 2012. This effectively means there is no bar
to proceeding with his bankruptcy in the event he fails to file
evidence. The Board will update shareholders on this and other
matters regarding the Company after the hearing.
For further information, please contact:
MobileWave Group plc rstear@mobilewave.com
Rory Stear, Chairman
Charles Stanley Securities 020 7149 6000
Nominated Adviser & Broker
Dugald J.Carlean / Carl Holmes
This information is provided by RNS
The company news service from the London Stock Exchange
END
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