Skipti hf.
Síminn hf. has signed an agreement with Seamobile Europe
Skipti hf. 03.06.2011 17:29 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 signed an agreement with Seamobile Europe that includes a payment of EUR 4.5 million from Síminn to Seamobile Europe, The payment is considerable lower than the International Chamber of Commerce Arbitration Tribunal in Paris had concluded. In October 2010 the arbitration tribunal concluded that Síminn was to pay Seamobile Europe approximately EUR 7.7 million. Seamobile Europe's claim was based on an agreement that Landssími Íslands hf. entered into with the company Geolink in 2003 concerning telecommunications services in international waters. In the beginning of 2011 the District Court of Reykjavík confirmed that the arbitration tribunal decision was enforceable in Iceland. The agreement concludes the presumably prolonged and sumptuous dispute between the two companies. News Source: NASDAQ OMX 03.06.2011 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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