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News: MEM Memphasys updates on litigation against Prime

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    Nov 11 (Reuters) - Memphasys Ltd (MEM)

    • update on litigation against Prime and receipt of statuatory demand for debt repayment from Prime
    • Has received statutory demand for repayment of third party debt that prime has paid as guarantor of that debt
    • prime as part of its strategy, has served on memphasys a statutory demand for payment of $4.9mln
    • remains confident that value of its b class shares in prime will exceed payout
 
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