Arrowpoint Technologies Plc

December 10, 2009 07:00 ET

Settlement of Arbitration

                                                                                     10 December 2009

                                      Arrowpoint Technologies Plc
                                    ("Arrowpoint" or the "Company")
                                       Settlement of Arbitration
Arrowpoint  (PLUS ticker-ARWP) is pleased to announce the amicable and final settlement of its  Demand
for Arbitration against Richard Feller, (previously the President of the Company's subsidiary Lynchval
Systems  Worldwide Inc ("Lynchval") and the corporate strategist for Arrowpoint Technologies  Inc)  in
respect  of various breaches by Mr Feller of the purchase agreement dated 25 June 2007 in relation  to

Pursuant  to this settlement Mr Feller has agreed to surrender 5,842,259 ordinary shares in Arrowpoint
Technologies  Plc  previously  allotted to him as consideration for the acquisition  of  Lynchval.  Mr
Feller  has  also  agreed to forgo all interest and any other payments due to him  by  Arrowpoint.  Mr
Feller  is now interested in 18,500,488 ordinary shares representing 9.23% of the issued share capital
of the Company.

The  shares  surrendered by Mr Feller may be used to provide share incentives to senior  personnel  of
Arrowpoint. Any shares not allocated by 10 March 2010 will be cancelled.

The Directors of Arrowpoint are responsible for the content of this announcement.

Contact Details:

Arrowpoint Technologies Plc                                                    
Santanu Nandy, Group Managing Director                                 +91 22 2598 5900
Ritu Modi, Group Public Relations
St Helens Capital Partners LLP                                                   
Mark Anwyl or Duncan Vasey                                             +44 (0)20 7368 6959
Corfin Communications                                                                                       
Neil Thapar, Harry Chathli, Alexis Gore                                +44(0)20 7977 0020

Contact Information

  • Arrowpoint Technologies Plc