REG - Edita Food Ind SAE - Amicable Settlement between Edita and Chipita

Edita Food Industries SAEAnnouncement

01/12/2021 08:10

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RNS Number : 1764U  Edita Food Industries S.A.E.  01 December 2021

 

 

 

 

Amicable Settlement of the dispute between Edita and Chipita Group

 

Reference is made to the above captioned subject matter; the disclosure
previously sent to your good self on 13 October 2020 with respect to the
dispute under reference, and the meeting dated 30 of November 2021  of the
board of directors of Edita food industries S.A.E ("Edita"). In this
connection, we are pleased to inform you that the resolutions passed in the
said meeting included the approval of the tripartite Global Settlement
Agreement  between Edita; CHIPITA INDUSTRIAL AND COMMERCIAL COMPANY S.A; and
CHIPITA PARTICIPATIONS LTD, for the settlement of the Arbitration Case No.
1435/2020 between the three companies under the auspices of the Cairo Regional
Centre for International Commercial Arbitration, in relation to their
Manufacturing and Technical Assistance Agreement dated 29 April 2011 and the
consequences of any termination of such agreement.

 

It should be noted that the Global Settlement Agreement shall have no adverse
effect on Edita's Profit and Loss Statement.

 

 

 

 

 

Contacts

Ms. Menna Shams El Din

Investor Relations and Business Development Senior Director

T: +202 3851 6464 | M: +20 100 1542428 |  menna.shamseldin@edita.com.eg
(mailto:%20menna.shamseldin@edita.com.eg)

 

 

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