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IT Capital battles on

By Duncan Bridgman

Friday 4th July 2003

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Listed investor IT Capital has reduced its percentage interest in Deep Video Imaging to 19.44% after Power Beat International failed to prevent the restructure in the High Court.

However, Power Beat is pressing ahead with another claim for the return of the 34% of DIV that it sold to IT Capital in May 2000.

IT Capital Shares were untraded at press time yesterday but traded previously at 1.2c.

In November 2000, when Stephen Tindall and IT Capital invested $2.5 million to raise their DVI stakes from 40% to 41.8%, the share price was 23c.

Power Beat has been ordered to pay costs of $22,500 plus disbursements to DVI as a result of the injunction application being dismissed.

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