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For immediate release
8 August 2008
ALPHAMERIC PLC
(the "Company")
JUDGMENT IN FAVOUR OF AMALGAMATED RACING
Today at the High Court, Mr. Justice Morgan handed down judgment in favour of Amalgamated Racing Limited (AMRAC), Alphameric's joint venture with Racecourse Media Services Limited, and its shareholders in the case brought against them by the Bookmakers' Afternoon Greyhound Services Limited, Done Bros (Cash Betting) Limited, Ladbrokes Betting and Gaming Limited and William Hill Organization.
The ruling secures AMRAC's ability, via its Turf TV service, to market and sell the television and data rights of 31 of the UK's most prestigious racecourses, including Aintree, Ascot, Cheltenham, Chester, Epsom, Goodwood, Kempton Park, Newbury, Newmarket, Sandown Park and York. The judgment also vindicated AMRAC's actions in establishing the new Turf TV service.
Mr. Justice Morgan has reserved judgment on a counterclaim brought by AMRAC and a number of the racecourses alleging that the bookmakers had colluded unlawfully to boycott the new service and to withhold sponsorship from races. Present indications are that his judgment on this issue will be made available in the autumn.
As a result of the judgment in their favour, AMRAC and its shareholders will be seeking an order for costs. This will be determined at a future hearing.
Alan Morcombe, Chief Executive of Alphameric said: "All of us at Alphameric are delighted with this judgment. Importantly, it allows AMRAC to continue to develop and improve its business, while we also believe that Alphameric's Leisure division, which had been adversely impacted by this litigation, can return to profitable growth and, over time, regain lost momentum."
"Alphameric is now moving on and remains committed to working with our bookmaker clients. We trust that Alphameric, Turf TV and the major bookmakers who brought this case can now develop closer and better relations, which we believe will lead to a more profitable future for everybody concerned"
ENQUIRIES:
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Alphameric plc |
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Alan Morcombe, Group Chief Executive |
07770 283001 |
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Mike McLaren, Group Finance Director |
01483 293971 |
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Analysts |
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Weber Shandwick Financial Nick Oborne / Hannah Marwood |
020 7067 0721 |
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Media |
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New Century Media Charlie Methven/Simon Goodley |
0207 930 8033 |