Safestyle PLC (LON:SFE) shares rocketed higher as the windows and doors maker settled its claims against rival SafeGlaze.
Both firms are based in Bradford and Safestyle had accused its rival of trademark infringement, malicious falsehood and misleading information as part of its sales tactics.
The AIM-listed group has been granted a number of injunctions against NIAMAC, SafeGlaze’s owner, which will now be replaced by appropriate undertakings to the court as part of the settlement.
The settlement also governs future relations between the firms to prevent the possibility of any acts of intimidation or harassment of Safestyle UK representatives.
In addition, SafeGlaze UK has agreed to change its trading name and rebrand fully within an agreed period of time.
Other details of the settlement remain confidential.
Safestyle shares jumped 21% to 48.6p.