OSLO, NORWAY -- (MARKET WIRE) -- 06/27/08 -- The legal dispute between Telio Holding ASA('Telio') and Labs2 NorgeASA ('Labs2') was heard in Lagmannsretten (the Court of Appeals) inOslo in late April. On 26 June 2008, Telio received the judgementfrom Lagmannsretten. Lagmannsretten has upheld the judgement fromOslo Tingrett in February 2007. Thus, Telio's appeal was rejected andTelio is held liable to pay an amount of NOK 5.415 million plusinterest. The appeals courts also rejected Labs2's appeal of a partof Oslo Tingrett's judgement and Telio was therefore acquitted for aclaim of NOK 2 million plus interest. Telio has accounted for thecosts related to this case in the 2006 annual accounts in addition toaccrued interest in the periods after.Consequently, the judgementwill have no material impact on the 2008 financial results.Telio will over the next days carry out a thorough evaluation of thejudgement in order to decide whether or not to appeal the judgment toHøyesterett (the Supreme Court).
Copyright © Hugin AS 2008. All rights reserved.
Mr. Eirik Lunde
CEO
Telephone:+47 23 62 66 88
Mobile: +47 48 09 69 64
E-mail: Email Contact
