Synchronica plc - Claim against Synchronica

ROYAL TUNBRIDGE WELLS, UK, Jan. 28 /CNW/ - Synchronica plc ("Synchronica" or "the Company") (AIM:SYNC;  TSX VENTURE:SYN) the international provider of push email, instant messaging and social networking services, announces that a claim (the "Claim"), from Anupam (Ben) Banerjee and EQ2IQ Consulting Limited, has been filed against the Company in the Canadian courts. The plaintiffs in this action claim that they are entitled to payment of a commission arising from the sale of iseemedia, as well as certain other payments.

Synchronica has taken advice from its corporate lawyers and believes the Claim has little merit and will be defended vigorously.

The Claim relates to agreements entered into by iseemedia Inc. in May of 2010, prior to Synchronica's acquisition of that company.  The possibility that a finder's fee would be payable in connection with Synchronica's acquisition of iseemedia Inc. ("iseemedia") was disclosed in the Canadian take-over bid circular prepared and filed by Synchronica for its offer to acquire iseemedia.

The Claim is for damages of approximately CDN $ 1.16m, plus punitive and other damages and costs of CND $100k. Synchronica has engaged counsel to represent it in defending against this Claim, as has iseemedia.  In its defense against the Claim, Synchronica will assert, among other things, that it is not a party to the agreements in question.  In the statement of defense filed by iseemedia with the advice of counsel in respect of the Claim, iseemedia has asserted (among other things) that the agreements were entered into under false pretenses and are therefore void, that in the course of their service to iseemedia the plaintiffs breached their fiduciary duty to iseemedia, and that the compensation claimed by the plaintiffs exceeds the amounts permitted to be paid under the policies of the TSX Venture Exchange (where iseemedia was listed, and Synchronica is now listed).  Furthermore, iseemedia has asserted that if any compensation is due to the plaintiffs, it has been calculated incorrectly and in a manner that leads to a claim for an grossly exaggerated amount, and that any such compensation can be paid in shares at the sole option of iseemedia.

About Synchronica

Synchronica plc is a leading developer of next-generation mobile messaging solutions based on open industry standards. The award-winning product portfolio includes the flagship product Mobile Gateway, providing push email, synchronisation, instant messaging, backup & restore and mobile connectivity to social networks. Synchronica's products are white-labelled and offered by mobile operators in emerging and developed markets to provide mass-market messaging services, increasing data revenues and reducing churn.

Synchronica's Mobile Gateway provides a unique multi-protocol gateway combining Push IMAP, SyncML, ActiveSync, Email-to-MMS and Email-to-SMS, delivering push email and synchronisation to literally any mobile phone currently in the market without requiring an additional client to be downloaded. Expanding Instant Messaging to mobile devices, Mobile Gateway establishes carrier-branded IM communities using the industry-standard XMPP and provides gateways to popular Internet IM communities connecting any IMPS enabled handset.

Headquartered in England, Synchronica also maintains development centres in Germany and the Philippines, in addition to a regional presence in Canada, the USA, Hong Kong, Spain, and Dubai. Synchronica plc is a public company which is traded on the AIM list of the London Stock Exchange (SYNC.L), and the Venture Exchange of the Toronto Stock Exchange (SYN.V). For further information, please visit

Cautionary Statements
The foregoing information may contain forward-looking statements relating to the future performance of Synchronica plc. Forward-looking statements, specifically those concerning future performance or results, are subject to certain risks and uncertainties, and actual results may differ materially from Synchronica's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the public filings and announcements made by Synchronica, including those made with AIM, a market of the London Stock Exchange, with the TSX Venture Exchange or with securities regulators.  Synchronica does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.   No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Synchronica plc

For further information:

Synchronica plc
     Carsten Brinkschulte, CEO
     Angus Dent, CFO
     Nicole Meissner, COO
+44 (0) 7977 256 406
+44 (0) 7977 256 347
+44 (0) 7977 256 412
TMX | Equicom      Craig MacPhail 416 815 0700, ext. 290

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Synchronica plc

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