Annual financial news and ad hoc releases
In our archive you will find financial news since 2005
February 6st, 2006
Settlements Reached
The Management Board of MediClin decided on November 16, 2005 to enter into settlement negotiations in the pending proceedings with regard to claims arising in connection with the takeover of Hurrle Klinik Group in 1998. Based on these efforts, settlements were entered into with all parties to the proceedings and the proceedings terminated, with one exception.
As a consequence of the settlement negotiations, the claims pursued in the proceedings will be compensated by way of settlement payments in the total amount of EUR 12.9 million. MediClin had set up sufficient accruals in the balance sheet from the beginning of the legal disputes already. The payments will be effected using the company’s own liquid funds.
The claim asserted in the remaining proceeding before the Regional Court amounts to approximately EUR 2 million plus interest. Considering the legal view of the Higher Regional Court expressed in one of the parallel proceedings now successfully completed, an amount of less than EUR 1 million is to be expected. MediClin will continue to defend itself against the claim asserted.
ISIN: DE0006595101; SIN: 659510
Listed: Official Market in Frankfurt (Prime Standard); Over-the-counter trading in Berlin-Bremen, Düsseldorf, Hamburg and Stuttgart