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Big Technologies PLC on Monday said it has agreed to pay £38.5 million to settle a long-running lawsuit linked to its 2018 acquisition of Buddi Ltd. The Rickmansworth, England-based electronic monitoring solutions said the settlement represents a ‘full and final’ resolution of claims brought by a group of former Buddi shareholders, who alleged they were wrongly forced or induced by misrepresentation to sell their shares at the time of Buddi’s acquisition and were not given the opportunity to reinvest in Big Technologies. Big Technologies rose 17% to 101.10 pence in London on Monday afternoon. Under the terms of the agreement, Big Technologies will pay £31.5 million immediately, with the remaining £7.0 million payable in 18 monthly instalments. As of June 30, the company had already provided £35.0 million for a potential cash outflow related to the Buddi litigation. Big Technologies said that, after payment of the initial £31.5 million, the group would have had cash balances of £61.9 million as at December 31, 2025. The claims related to shareholders representing around 7.9% of Buddi’s equity at the time of the 2018 transaction. Proceedings were initiated in the High Court of Justice of England & Wales in August and November 2023. Separately, the company said mediation continues with Buddi founder Sara Murray and associated parties in relation to separate proceedings launched by Big Technologies. The group reiterated that it is seeking to resolve those claims through negotiation, including mediation, rather than through what it described as potentially protracted litigation. Big Technologies Interim Chair Sangita Shah said the Buddi settlement was ‘a positive outcome’ that removes significant uncertainty for the group. ‘As a board, we remain committed to continuing discussions directly with Sara Murray in order to resolve the SM proceedings without further protracted litigation, with a view to reaching an acceptable settlement,’ Shah said. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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