Successful Completion of Form of Order Hearing

Further to the announcement on 19 December 2023, PCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions for business communications, provides an update following the conclusion of the Form of Order hearing held on Monday 18th December.

The Form of Order was sealed by the court at around midday on Tuesday 19th December 2023, and the Company draws investors attention to the following highlights:

• Sycurio's application for permission to appeal the ruling was refused by the judge, Mrs Justice Bacon. Sycurio are allowed to seek permission to appeal from the Court of Appeal.
• Mrs Justice Bacon ordered that Sycurio shall pay PCI Pal £1.06 million by way of an interim payment on account of costs. The timing of this payment to PCI Pal will not become clear until late January or Early February and will be subject to any further decisions by the Court of Appeal in that time.
• Mrs Justice Bacon also ordered that interest be applied to all amounts to be paid to PCI Pal.

There are a number of other aspects to the Form of Order which the Company will work through with its lawyers in the coming weeks and the Company expects to be able to provide a further positive update to investors towards the end of January 2024 / early February 2024.