AMA Group settles legal proceedings with former CEO

AMA Group Limited (ASX: $AMA) has announced the settlement of legal proceedings with its former CEO, Mr Andrew Hopkins, and his company Cedarfield Holdings Pty Ltd. The case has been settled on agreed terms between AMA Group and Mr Hopkins, with both parties reaching a confidential agreement.

Board's Satisfaction with Settlement Outcome

The Board of AMA Group Limited is pleased to announce the resolution of the legal proceedings with its former CEO, Mr Andrew Hopkins, and his company Cedarfield Holdings Pty Ltd. The settlement, reached on agreed terms, includes the payment of a confidential sum of money by the Hopkins Parties to AMA Group, along with the release of any claims relating to Mr Hopkins' role as former CEO and their prior business relationship. Additionally, the AMA Parties have agreed to release the Hopkins Parties from claims relating to Mr Hopkins' role as former CEO and their prior business relationship with the AMA Parties. The Board expresses satisfaction with the outcome of the proceedings.

Resolution of Legal Proceedings and Future Outlook

AMA Group Limited (ASX: $AMA) has successfully resolved the legal proceedings with its former CEO, Mr Andrew Hopkins, and his company Cedarfield Holdings Pty Ltd. The confidential settlement, which includes the payment of a sum of money to AMA Group by the Hopkins Parties, marks the conclusion of the case. The Board of AMA Group expresses contentment with the settlement outcome. Looking ahead, the company aims to continue its operations and focus on its corporate strategy, leveraging this resolution to further strengthen its business relationships and pursue its objectives.