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PCI-PAL PLC announced on 26 January 2024 an update on its UK patent case with competitor Sycurio Limited. On 25 January 2024, the Court of Appeal granted Sycurio permission to appeal the UK High Court judgment, following its earlier refusal by trial judge Mrs Justice Bacon. Sycurio's application to stay the interim payment of PCI Pal's costs, totaling £1.06 million, is scheduled to be heard by the Court of Appeal in the coming weeks.
| Date | 26 Jan 2024 |
| Time | 12:50:00 |
| Category | Corporate updates |
| ID | 1011B |
26 January 2024
PCI-PAL PLC
("PCI Pal", the "Company" or "the Group")
UK Patent Case Update
Further to the announcement on 20 December 2023, PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications provides an update following its successful victory in the UK High Court of the patent case with its competitor, Sycurio Limited.
Having been refused permission to appeal by the trial judge, Mrs Justice Bacon, Sycurio requested permission to appeal the UK judgement from the Court of Appeal. On 25 January 2024, the Court of Appeal granted permission for the appeal to be heard. This decision by the Court of Appeal was not unexpected, nor is it unusual in such cases.
The appeal follows PCI Pal's resounding victory at trial, so the Company will of course contest it and strongly believes it has no merit and has been brought in a continuing attempt by Sycurio to disrupt and put pressure on PCI Pal.
Sycurio's application to stay the interim payment of PCI Pal's costs (£1.06 million) will be heard in the coming weeks by the Court of Appeal. The payment is currently being held by the Company's lawyers in their client account.
For further information, please contact:
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PCI-PAL PLC |
Via Walbrook PR |
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James Barham - Chief Executive Officer William Good - Chief Financial Officer
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Cavendish Capital Market Limited (Nominated Adviser and Broker) |
+44 (0) 20 7227 0500 |
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Marc Milmo/Simon Hicks/Fergus Sullivan (Corporate Finance) Sunila De Silva (Corporate Broking)
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Walbrook PR |
+44 (0) 20 7933 8780 |
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Tom Cooper/Paul Vann |
+44 (0) 797 122 1972 |
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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.
For more information visit www.pcipal.com or follow the team on Linkedin: https://www.linkedin.com/company/pci-pal/