Brief: AcadeMedia's unit reaches settlement with City of Malmö

AcadeMedia AB

01/06/2018 10:24

June 1 (Reuters) - AcadeMedia AB  ACADE.ST :
    * ACADEMEDIA'S SUBSIDIARY HERMODS HAS REACHED A SETTLEMENT
WITH
THE CITY OF MALMÖ REGARDING THE SFI-CONTRACT
    * FOLLOWING A DIALOGUE WITH CITY OF MALMÖ A JOINT AGREEMENT
HAS
NOW BEEN REACHED.
    * HERMODS SHALL PAY A COMPENSATION AMOUNTING TO SEK 14
MILLION TO
CITY OF MALMÖ
    * CITY OF MALMÖ WILL NOT PRE-MATURELY TERMINATE CONTRACT
WITH
HERMODS, WHICH WILL RUN UNTIL END OF CONTRACT PERIOD
    * CITY OF MALMÖ WILL NOT PRE-MATURELY TERMINATE CONTRACT
WITH
HERMODS
    * MAJORITY OF EARNINGS EFFECTS ARE EXPECTED TO IMPACT Q4
2017/18.
    * MAJORITY OF EARNINGS EFFECTS ARE EXPECTED TO IMPACT Q4
2017/18.

Source text for Eikon:  ID:nWkr6pr5t3 
Further company coverage:  ACADE.ST 

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