NEW! Investment Companies Centre

Alphameric (ALM)

Sector:

Software & Computer Services

Index:

FTSE Fledgling

Market Cap

£32.12m

Change Today

Price Down-0.50p ()

Share Price

14.25p

JUDGMENT IN FAVOUR OF AMRAC

RNS Number : 9499A
Alphameric PLC
08 August 2008
 



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:


Alphameric plc


Alan Morcombe, Group Chief Executive

07770 283001

Mike McLaren, Group Finance Director

01483 293971



Analysts


Weber Shandwick Financial

Nick Oborne / Hannah Marwood

020 7067 0721



Media


New Century Media

Charlie Methven/Simon Goodley

0207 930 8033



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCUWAKRWRRWRRR

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).