Watchstone Group PLC - Issue of claim by Hubio Solutions Inc London Stock Exchange
RNS Number : 0244X
Watchstone Group PLC
16 February 2017
 

 

 

Issue of claim by Hubio Solutions Inc in respect of agreement with Aviva Canada Inc

 

Watchstone Group plc (LON:WTG) announces that its wholly owned subsidiary Hubio Solutions Inc ("Hubio Solutions"), a Canadian corporation, has issued a claim in the Ontario Superior Court of Justice against Aviva Canada Inc ("Aviva Canada") in respect of breach of contract and unpaid amounts due under an agreement entered into by the parties in October 2014 and announced on 21 October 2014 ("Agreement").

 

Aviva Canada has notified Hubio Solutions that it has issued a claim against Hubio Solutions and Ingenie (Canada) Inc (despite the fact that it was not party to the Agreement) in respect of this Agreement and otherwise.

 

Watchstone is confident in the strength of the Group's case and will defend any claim robustly. The Group is disappointed that having worked closely with Aviva Canada for many years, Aviva Canada has chosen not to fulfil its obligations under the Agreement or make the payments due as invoiced.

 

Watchstone will make further announcements in due course, as appropriate.

 

For further information:

 

Watchstone Group plc                                               

         Tel: 03333 448048

 

Peel Hunt LLP, Nominated Adviser and broker

 

Dan Webster


 


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