Legal case update
StatPro has announced a setback in its long-running legal battle against the former part-owners of SiSoft. The dispute is in relation to the amount payable for a minority shareholding, and yesterday evening’s RNS describes a win for the former shareholders in the French Court of Appeal. The total award is for c.€1m plus backdated interest – but StatPro is considering lodging an appeal. The matter has no bearing on clients, products or profitability – it relates solely to interpretation of a share sale & purchase agreement. We adjust our cash forecasts to reflect c.£1m now payable, with details on the interest cost to follow.