News: NEA Nearmap Ltd Announces Litigation And Trading Update

Nov 14 (Reuters) - Nearmap Ltd (NEA) :

• NEARMAP LITIGATION AND TRADING UPDATE
• EAGLEVIEW FILED A MOTION WITH COURT SEEKING TO AMEND ITS COMPLAINT
• EAGLEVIEW SEEKING TO AMEND ITS COMPLAINT TO ADD NEW PARTIES TO PROCEEDING, AMONG OTHERS
• NEARMAP WILL FILE ITS OPPOSITION TO EAGLEVIEW MOTION ON OR BEFORE NOV 23
• EXPECTS TO ADD NET INCREMENTAL ACV OF BETWEEN A$12.8 MILLION AND A$17.4 MILLION DURING 1H FY23
• EXPECTS FY23 CLOSING ACV PORTFOLIO BETWEEN A$195 MILLION AND A$208 MILLION ON CONSTANT CURRENCY BASIS
• NOTING A LIKELY POSITIVE SKEW TO SECOND HALF
• LITIGATION RELATED COSTS ARE CURRENTLY EXPECTED TO BE BETWEEN A$9 MILLION AND A$11 MILLION FOR FY23
• IF SCHEME IS NOT IMPLEMENTED, TRANSACTION RELATED COSTS OF A$2.78 MILLION ARE EXPECTED TO BE PAYABLE BY CO