Big Technologies reaches full and final settlement of Buddi litigation

19th Jan 2026 12:10

(Sharecast News) - Big Technologies said on Monday that it has reached a full and final settlement of the long-running Buddi litigation, agreeing to pay £38.5m in cash to bring the dispute to an end and remove what it described as a significant source of uncertainty for the group.

The AIM-traded firm said the settlement related to claims brought by certain former shareholders of Buddi Limited, representing around 7.9% of the company at the time of its acquisition by Big Technologies in 2018.

It said the claimants alleged they were wrongly forced, or induced by misrepresentation, to sell their shares and were not given the opportunity to reinvest into Big Technologies.

Proceedings were initiated in the High Court of Justice of England and Wales in August and November 2023.

Under the terms of the agreement, Big Technologies said it would pay £31.5m immediately, with the remaining £7m to be paid in 18 monthly instalments.

As at 30 June, the group had already provided £35m in respect of the anticipated outflow related to the Buddi litigation.

The company said that, after payment of the initial £31.5m settlement amount, it would have had cash balances of £61.9m as at 31 December 2025.

Separately, Big Technologies said it continued to pursue mediation with Sara Murray and associated parties in relation to separate proceedings previously disclosed.

The company said it had started discussions aimed at resolving those claims through negotiation, as an alternative to what it described as potentially protracted litigation, and hoped to make further progress towards a consensual outcome on acceptable terms.

"Today's settlement is a positive outcome to the protracted Buddi litigation which draws a line under the significant uncertainty that the group has faced," said interim chair Sangita Shah.

She added that the board remained committed to continuing discussions with Sara Murray to resolve the remaining proceedings "without further protracted litigation, with a view to reaching an acceptable settlement."

At 1239 GMT, shares in Big Technologies were up 14.9% at 99.5p.

Reporting by Josh White for Sharecast.com.