26 September 2016
PGC and Bath Street Capital discontinue High Court claims
Pyne Gould Corporation ("PGC") today announced that it and Bath Street
Capital ("BSC") have today agreed to the immediate, and unconditional,
discontinuance of their respective High Court claims, without costs.
The litigation concerns PGC''s demand for payment of further consideration due
to PGC from its sale of Perpetual Trust Limited ("PTL") to BSC in January
2014.
BSC is currently proceeding towards a float of Complectus, which owns PTL.
The agreement means court action has been withdrawn, and the parties are in
the process of finalising the terms of a settlement.
Once those terms have been finalised, a further announcement will be made.
For more information, please contact:
David Lewis
+64 21 976 119
End CA:00289743 For:PGC Type:GENERAL Time:2016-09-26 15:15:01