Christopher Mottershead founder and CEO of Travelzest plc has today served defamation proceedings through Schillings solicitors against Travelzest.
This follows an announcement made by Traveizest plc through the London Stock Exchange on 24 April 2009.
The Announcement made an extremely serious and defamatory allegation, namely that there had been an alleged misappropriation of company funds and Mr Mottershead had been suspended. Since the Announcement, the allegation has been republished in the media.
Travelzest’s investigation into the allegations, with which Mr Mottershead has co-operated fully, has been running for nearly 4 weeks without any end being in sight.
Mr Mottershead takes the matter of his unblemished and hard won reputation very seriously and feels that he has had no other option but to issue proceedings in order to obtain vindication in respect of this matter. Mr Mottershead strongly denies any wrongdoing.
There will be no further comment at this time.