Disney Appeal Update

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Avesco Group plc, announces an update regarding the Group’s economic interest in the outcome of existing litigation brought by Celador International Ltd against The Walt Disney Company.

Avesco Group plc ("Avesco" or the "Group"), the international provider of services to the corporate presentation, entertainment and broadcast markets, announces an update regarding the Group’s economic interest in the outcome of existing litigation brought by Celador International Ltd against The Walt Disney Company and others ("Disney").

The Group is pleased to announce that the United States Ninth Circuit Court of Appeals has issued a ruling denying Disney’s appeal against the judgment and award made in the original jury trial.

If paid in full, the Group's interest in the award, after costs but including pre-judgement interest, is estimated at approximately $60m. Disney retains further rights of appeal and the Company will provide further updates, as appropriate, in due course.

For further information please contact:
Avesco Group plc
Richard Murray, Chairman 01293 583400
John Christmas, Group Finance Director

finnCap
Ed Frisby/Rose Herbert, 020 7220 0500
Corporate Finance

Brian Patient/Victoria Bates,
Corporate Broking

Publication Date: 
04/12/2012 - 14:29