Brief: Herantis Pharma announces decision in arbitration proceedings with Finvector
25/02/2016 09:00
Feb 25 (Reuters) - Herantis Pharma Oyj HRTIS.HE :
* In March 2015, Finvector Vision Therapies Ltd ("Finvector") initiated arbitration
proceedings against Herantis Pharma Plc's subsidiary Laurantis Pharma Ltd and a number of its
former shareholders
* Finnish Court of Arbitration has given its final award on Feb. 25, 2016
* Arbitral tribunal has held that there has been no alleged breach of shareholders'
agreement and thus Finvector is not entitled to claim damages
* Says Finvector's claim is dismissed in full and Finvector is obligated to pay to Laurantis
and its former shareholders as compensation for the legal costs about 200,000 euros
($220,180.00)
* Compensation to Laurantis is about 50,000 euros
* Decision does not impact its 2016 outlook
Source text for Eikon: ID:nHUG7P6YVd
Further company coverage: HRTIS.HE
($1 = 0.9083 euros)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48586983920;))