TV software and services group Motive Television has announced that the High Court has consented to the settlement reached with former employee Andre Vanyi-Robin, marking the end of the legal battle between the two.
What happened?The decision by Motive to settle comes after it initially won a court case against Vanyi-Robin, who claimed he was owed around £183,000 after not receiving Motive shares that should have been issued to him.
Vanyi-Robin then said that he would appeal the judgement.
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At the time the company said his claims, which included his dismissal for gross misconduct, had no foundation and it would "contest them with the utmost vigour".
However, the firm has since said it would issue 100m ordinary shares of 0.01p each in the company to the former employee.
In addition, the business has also agreed to pay to Vanyi-Robin earn-out commissions totalling £41,583.62 for the years 2011 and 2012.
Both issuances of shares will be subject to a soft lock-in arrangement for 12 months in order to preserve an orderly market.
An amicable settlementVanyi-Robin previously said he was pleased the two sides have reached this settlement amicably and added that Motive is a "fantastic business".
NR
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