Good to have the legal proceedings resolved - Statements from...

Good to have the legal proceedings resolved -

Statements from the announcement:

By the terms of the settlement, both parties have agreed to fully and finally settle all claims between them arising out of the proceedings.

Without admission of liability TV2U has paid the sum of A$2,092,500 to the Humich Entities.

TV2U subrogates so as to be able to receive or to claim (up to a maximum of $2,092,500) – as if standing in the position of the Humich entities – as against the borrowing entity. TV2U expressly reserved this right in its agreement with the Humich Entities.

TV2U intends to pursue JayPlus AG for the subrogated amount and is currently negotiating with them for this amount to be re-paid.