PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications, is pleased to announce that it has comprehensively defeated the unfounded patent infringement suit brought by its competitor Sycurio Limited ("Sycurio") at the UK High Court.
Judgment was handed down after close of business today and will be available to read when the court publishes it online at https://www.judiciary.uk/judgments/.
Mrs Justice Bacon held that Sycurio's patent was invalid due to obviousness from two sources of prior art. Furthermore, Mrs Justice Bacon decided that even if the patent had been valid, PCI Pal's Agent Assist solution did not infringe the patent.
The Company intends to make a further update to investors in the coming days. This will include an update as to the expected timing of the release of the Company's annual accounts for FY23 which, as previously announced, have been delayed as a result of their proximity to the UK High Court's ruling.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.
For further information, please contact:
Via Walbrook PR
James Barham - Chief Executive Officer
William Good - Chief Financial Officer
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
+44 (0) 20 7227 0500
Marc Milmo/Simon Hicks/Fergus Sullivan (Corporate Finance)
Sunila de Silva (Corporate Broking)
+44 (0) 20 7933 8780
Tom Cooper/Nick Rome
+44 (0) 797 122 1972
The Group's Nominated Adviser and Broker, finnCap Ltd, has now changed its name to Cavendish Capital Markets Ltd following completion of its own corporate merger.
About PCI Pal:
PCI Pal is a leading provider of Software-as-a-Service ("SaaS") solutions that empower companies to take payments from their customers securely, adhere to strict industry governance, and remove their business from the significant risks posed by non-compliance and data loss. Our products secure payments and data in any business communications environment including voice, chat, social, email, and contact centre. We are integrated to, and resold by, some of the worlds' leading business communications vendors, as well as major payment service providers.
The entirety of our product-base is available from our global cloud platform hosted in Amazon Web Services ("AWS"), with regional instances across EMEA, North America, and ANZ.