Eltek ASA: Arbitration award Eltek Valere Pakistan
(Thomson Reuters ONE) -
"Eltek ASA has received the final award in an arbitration case related to the
purchase of the minority shareholder's 49% shareholding in Eltek Valere Pakistan
in 2010, reference made to note 6 in the Report third quarter 2011 for further
information.
In accordance with the outcome of the arbitration, Eltek will pay NOK 40 million
for the shares including interest and costs, and an amount of NOK 31 million in
excess of provisions already made by Eltek will be charged against equity in the
balance sheet for the full year 2011. The payment will not affect the Income
Statement.
For further information, please contact:
CFO Pål Skistad, Eltek ASA, tel: +47 908 50 378
About Eltek ASA:
Eltek is a strategic technology partner within power solutions through Eltek
Valere, and a regional supplier of transmission systems, satellite
communications and infocomm systems through Nera Telecommunications. The
Company reported revenue of NOK 4 billion in 2010, and has close to 2,700
employees in close to 40 countries. Following the divestment of Nera Networks,
Eltek focuses on its core business in telecom power and power electronics
solutions for industrial applications and renewable markets such as solar power
and electric vehicles. Eltek is listed on Oslo Stock Exchange and headquartered
in Drammen, Norway.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Eltek ASA via Thomson Reuters ONE
[HUG#1559738]
Unternehmensinformation / Kurzprofil:
Datum: 01.11.2011 - 08:56 Uhr
Sprache: Deutsch
News-ID 82245
Anzahl Zeichen: 2191
contact information:
Town:
Drammen
Kategorie:
Business News
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"Eltek ASA: Arbitration award Eltek Valere Pakistan"
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