AVESCO GROUP PLC INTERIMREPORT AND ACCOUNTS 2011
www.avesco.com
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8.
Interim and final dividends During the year ended 30 September 2010, the Group paid no dividends.
A final dividend for the year ended 30 September 2010 of 1.0p per share was approved by shareholders and was paid on 6 April 2011 to shareholders on the register at 6.00pmon 11March 2011.
9. Contingencies InvestinMedia Holdings Limited (“InvestinMedia”), a subsidiary of the Company, sold its investment in Complete Communications Corporation Limited (“Complete”) on 20 December 2006. In connection with the sale, InvestinMedia and other vendors gave certain warranties and indemnities to the buyer, liability in respect of which runs for periods of up to seven years fromthe date of completion. Companies in the Complete group are also subject to legal claims whichmay give rise to liability on the part of InvestinMedia and other vendors under the indemnities. On 8 July 2010 the Company announced that the jury in a US legal action had reached a unanimous verdict favourable to InvestinMedia and the other vendors of Complete. On 21 December 2010, the defendants’ alternativemotions for a new trial and for judgement as amatter of law were denied. On 14 January 2011 the defendants filed their notice of appeal. If the award is paid in full, the Group’s interest (after costs but including pre- judgement interest) is estimated at approximately $60m. No credit has been taken in these accounts to reflect this verdict, pending completion of the appeal process.
10. Distribution of interim report and accounts Copies of this interimreport and accounts are being sent to all shareholders and additional copies are available either fromthe Company’s web site (
www.avesco.com) or fromthe Company’s registered office: Avesco Group plc, Unit E2, SussexManor Business Park, Gatwick Road, Crawley,West Sussex, RH10 9NH. Telephone: +44 (0) 1293 583 400. Fax: +44 (0) 1293 583 410. E-mail:
mail@avesco.com.
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