Brief: Masterflex: court decision in dispute between Clean Air Mobility GmbH and Masterflex Entwicklungs GmbH
16/06/2016 16:40
June 16 (Reuters) - Masterflex SE MZXG.DE :
* Duesseldorf Higher Regional Court (OLG) announced its
decision in legal dispute between Clean Air Mobility GmbH and
Masterflex Entwicklungs GmbH
* Masterflex has been ordered to repay purchase price and a
portion of transaction costs totalling 880,827.82 euros plus
interest of 5 pct over base rate since Nov. 9, 2012
* Recognised an accounting provision of 0.5 million euros
for this legal dispute in its consolidated and annual financial
statements
* Decision affects discontinued operations in an amount of
around 0.6 million euros
* Consolidated net profit or earnings per share will be
impacted by same amount, but not EBIT
* Will examine reasons given for judgement to determine
whether it can and will appeal against court's decision
Source text for Eikon: ID:nPex7dCr6f
Further company coverage: MZXG.DE
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