Ferrari has issued the following statement in respect of Tuesday's High Court hearing in London:

In light of the hearing yesterday in the High Court in London, relating to the case between Ferrari S.p.A. and the Coughlans, Ferrari wishes to make clear the following: the legal teams on both sides had reached an agreement on two procedural points that were to be discussed in a further hearing this morning.

Therefore, the hearing in which these procedural points were to be discussed has been cancelled. Mike Coughlan has today provided Ferrari with an affidavit relating to relevant facts and Ferrari has agreed not to forward the affidavit to the Italian criminal authorities.

The agreement reached between the parties therefore concerns only the procedural aspects mentioned above. The case brought by Ferrari in England against the Coughlans therefore continues in terms of what is decided by the High Court in London.

Maranello, 11 July