Skipti hf.
Notification of arbitration tribunal decision
Skipti hf. 16.02.2011 16:23 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Síminn hf., a subsidiary of Skipti hf., has received information that the District Court of Reykjavík has confirmed as enforceable a decision in a dispute between Síminn and the telecommunications company Seamobile Europe, which was under arbitration by a tribunal in Paris. The arbitration tribunal concluded that Síminn was liable for damages, particularly in respect of an alleged loss of future profits based on an agreement that Landssími Íslands hf. entered into with the company Geolink in 2003 concerning telecommunications services in international waters. The amount of the claim is approximately EUR 7.7 million. In the opinion of Síminn, the decision of the arbitration tribunal is not consistent with Icelandic law; it was agreed between the parties that any arbitration should be based on Icelandic law. Síminn will now exercise the recourses available in its defence according to law. News Source: NASDAQ OMX 16.02.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Skipti hf. Iceland Phone: Fax: E-mail: Internet: ISIN: IS0000011948 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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