Licence and Patent Dispute


 

TIDMOXN 
 
RNS Number : 4147V 
Oxonica plc 
09 July 2009 
 

9 July 2009 
Oxonica plc 
("Oxonica" or the "Company") 
Fourth statement regarding Licence and Patent Dispute with Neuftec Limited 
 
Oxonica, a leading international nanomaterials group, today issues the following 
statement in connection with the licence and patent dispute between its wholly 
owned subsidiary Oxonica Energy Limited ("Energy") and Neuftec Limited 
("Neuftec"), a company registered in the Commonwealth of Dominica. 
 
On 13 October 2008 Oxonica issued a statement that Energy had been granted 
permission to appeal the decision of Deputy Judge Peter Prescott Q.C. in the 
High Court concerning the interpretation of the licence agreement between Energy 
and Neuftec and ordering the payment of royalties to Neuftec on sales of 
Envirox(TM) up to the date of termination of the licence agreement. 
 
Following a hearing in London on 23 June 2009, the Court of Appeal has today 
upheld the judgment of Deputy Judge Peter Prescott Q.C. The judgment was given 
by Lord Justice Jacob with Lady Justice Arden and Lord Justice May concurring. 
The Order and costs will be dealt with at a later hearing. An initial amount of 
GBP394,000 covering the royalties in dispute has already been placed in a joint 
bank account of both parties' solicitors in October 2008. 
 
An amount of GBP550,000 was provided for in addition to the GBP394,000 royalties 
following the High Court hearing.  Energy has increased this provision for costs 
payable to Neuftec arising from this action to GBP800,000 following consultation 
with the company's legal advisors.  Oxonica had cash balances of GBP1.6 million 
as at 7th July 2009. 
 
The Directors of the company sought legal advice at every stage of the 
proceedings and Energy was advised that it had the stronger case. Hence the 
Directors are disappointed with the outcome of the appeal and are reviewing 
their options. 
 
 
 
For further information, please contact: 
Oxonica plc 01865 856 700 
Kevin Matthews, Chief Executive Officer 
Richard Clarke, Chief Financial Officer 
 
Panmure Gordon 020 7459 3600 
Hugh Morgan 
Andrew Potts 
 
 
Notes to Editors 
About Oxonica plc - 
Oxonica (AIM: OXN.L) is a leading nanomaterials group with products already 
launched into international markets. Oxonica's leading product is Envirox(TM) 
Fuel Borne Catalyst - a nanocatalyst improving fuel economy and reducing 
emissions. The Group has also developed Optisol(TM), a photostable UV protection 
system designed to optimise the performance of quality sunscreens and 
anti-premature ageing products, and generates licence and development revenue 
from activities in the clinical diagnostics and security markets. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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