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- Stock Exchange Releases
Reimbursements to Lemminkäinen related to the asphalt cartel specified to approximately EUR 19 million with interest and expenses
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 24 OCTOBER 2016 AT 10:30 A.M.
REIMBURSEMENTS TO LEMMINKÄINEN RELATED TO THE ASPHALT CARTEL SPECIFIED TO APPROXIMATELY EUR 19 MILLION WITH INTEREST AND EXPENSES
On 20 October 2016, the Court of Appeal of Helsinki gave its decisions in the legal proceedings concerning the damages related to the asphalt cartel. Regarding the 37 claims against Lemminkäinen, Lemminkäinen and other asphalt industry companies are entitled to receive reimbursements in total approximately EUR 20 million (consisting of capital amount of approximately EUR 14 million less as well as interest and legal expenses of approximately EUR 6 million less than according to the decisions of the District Court).
Of these reimbursements, Lemminkäinen is entitled to receive refunds (based on Lemminkäinen’s own share and those shares of other defendants that Lemminkäinen has paid) in total approximately EUR 19 million consisting of capital as well as interest and legal expenses. As stated in the stock exchange release on 20 October, Lemminkäinen will record the reimbursement as income in its fourth-quarter result.
The above figures include Lemminkäinen’s share of the damages awarded by the Court of Appeal to the State of Finland and one municipality, the claims of which against Lemminkäinen had been rejected by the District Court.
Casimir Lindholm, President and CEO
Tel. +358 2071 53304
Nasdaq Helsinki Ltd
Lemminkäinen is an expert in complex infrastructure construction and building construction in Northern Europe and one of the largest paving companies in its market. Together with our customers and 4,800 professionals we employ, we build a sustainable society. In 2015, our net sales were EUR 1.9 billion. Lemminkäinen Corporation’s share is quoted on Nasdaq Helsinki Ltd. www.lemminkainen.com