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Turbotec Products (TRBO)
- Change Today: 0.000p
- 52 Week High: 38.50p
- 52 Week Low: 23.00p
- Currency: UK Pounds
- Shares Issued: 12.81m
- Volume: 0
- Market Cap: £3.27m
- RiskGrade: 48
- Beta: 0.06
Update on Legal Dispute in UK Courts
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Press Release |
13 July 2011 |
Turbotec Products Plc
("Turbotec" or "the Company")
Update on Legal Dispute in UK Courts
Turbotec Products Plc (TRBO.L), the designer and manufacturer of high performance, high quality heat exchangers and Tru-Twist® heat transfer tubing, today announces that following the favourable ruling in the London High Court in the legal action taken by its then majority shareholder, Thermodynetics, Inc and interim cost award, the balance has now been determined. Thermodynetics, Inc has agreed to pay Turbotec an additional sum of £210,000 ($336,000), giving a total of £560,000 including the interim payment.
Turbotec is due to receive the additional funds in full by 4pm on 18 July 2011.
- Ends -
For further information please contact:
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Turbotec Products Plc |
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Robert Lowe, Non Executive Chairman
Sunil Raina, Managing Director
Robert Lieberman, Finance Director |
+44 (0) 79 1714 8930
Tel: +1 (860) 731-4200 |
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Seymour Pierce Limited |
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Guy Peters, Corporate Finance Paul Jewell, Corporate Broking
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Tel: +44 (0) 20 7107 8000 |
Media enquiries:
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Abchurch Communications |
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Sarah Hollins / Simone Elviss / Oliver Hibberd |
Tel: +44 (0)20 7398 7728 |
This information is provided by RNS
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