REG - Dialight PLC - Sanmina Litigation

DialightAnnouncement

02/01/2024 07:00

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RNS Number : 2694Y  Dialight PLC  02 January 2024

Dialight plc ("Dialight")

Sanmina litigation

Further to announcements made on 15 March 2023 (in respect of the ruling on
Sanmina's dismissal motion) and on 29 November 2023 (in respect of the ruling
on Sanmina's motion for reconsideration), Dialight confirms that both
judgments have now been fully released by the court and are available at
https://ecf.nysd.uscourts.gov (https://ecf.nysd.uscourts.gov) .  They are
also available on Dialight's corporate website at
www.dialight.com/ir/shareholder-information/sanmina-litigation/.

In the First Judgment, the court denied Sanmina's motion to dismiss Dialight's
fraudulent inducement claim and denied its motion for summary judgment on
Sanmina's accounts receivable claim.  In the Second Judgment, the court
affirmed its prior opinion and denied Sanmina's motion for summary judgment on
its accounts receivable claim.

Dialight's fraudulent inducement claim, together with various claims and
counter-claims relating to excess and obsolete inventory, accounts receivable
and accounts payable, will now proceed to trial, and Dialight will continue to
rigorously pursue its claims.

If Dialight's claims are successful at trial, the range of outcomes includes
the payment by Sanmina to Dialight of between $0 and c. $220m (excluding legal
costs and judicial interest).  If Sanmina's claim is successful at trial the
range of outcomes could include the payment by Dialight to Sanmina of between
$0m and $8.3m (excluding legal costs and judicial interest).

 

Contacts:

Dialight plc

Tel: +44 (0)203 058 3542

Fariyal Khanbabi - Group Chief Executive

Richard Allan - General Counsel & Company Secretary

 

About Dialight:

Dialight (LSE: DIA.L) is a global leader in sustainable LED lighting for
industrial applications. Dialight's LED products are providing the next
generation of lighting solutions that deliver reduced energy consumption and
create a safer working environment. Our products are specifically designed to
provide superior operational performance, reliability and durability, reducing
energy consumption and ongoing maintenance and achieving a rapid return on
investment. The company is headquartered in the UK with operations in
Australia, Dubai, Germany, Malaysia, Mexico, Singapore, the UK and the USA.
www.dialight.com.

 

Notes:

1.  This announcement includes inside information as defined in Article 7 of
the Market Abuse Regulation No. 596/2014 (which forms part of domestic UK law
pursuant to the European Union (Withdrawal) Act 2018) and is disclosed in
accordance with the Company's obligations under Article 17 of those
Regulations. On the publication of this announcement via a Regulatory
Information Service ("RIS"), this information is considered to be in the
public domain.

2.  The person responsible for making this announcement is Richard Allan,
General Counsel & Company Secretary of Dialight plc

 

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