Watchstone Group PLC Receipt of Letter of Claim (0191J)

TIDMWTG

RNS Number : 0191J

Watchstone Group PLC

14 December 2015

Watchstone Group plc

("Watchstone" or the "Company")

Receipt of Letter of Claim

Watchstone Group plc (LON:WTG) announces that, further to its announcement of 29 September 2015, it has today received a letter of claim from the law firm acting for 342 claimants to commence an action against the Company under the Financial Services and Markets Act 2000 ("Letter of Claim").

Whilst the Company is yet not in a position to verify the assertions in the Letter of Claim, consistent with the previous announcement of the Company and correspondence from the law firm, the Letter of Claim details the expected value of the potential claims against the Company to be approximately GBP9.4 million.

As stated previously, the Company plans to vigorously defend all claims.

The Company does not believe that the Letter of Claim will adversely impact the Company's previously announced Reduction of Capital and Return of Capital.

For further information:

 
 Watchstone Group plc                             Tel: 01489 864 
                                                   200 
 Richard Rose, Non-executive Chairman 
  Indro Mukerjee, Group Chief Executive 
  Officer 
 Stephen Joseph, Head of Investor 
  Relations 
 
 Tulchan Communications                       Tel: 020 7353 
                                                   4200 
 Susanna Voyle 
  Charlotte Church 
 
   Peel Hunt LLP, Nominated Adviser            Tel: 020 7418 
   and broker                                       8900 
 Dan Webster 
  George Sellar

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

December 14, 2015 12:43 ET (17:43 GMT)

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