Motive Television puts end to legal battle with former employee

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.

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.

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

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021