Arbitration with ProMargin ended
Pricer has earlier published that the company has been party to arbitration proceedings against ProMargin AB (now with new name Motion Display Scandinavia AB). A final award was rendered late yesterday according to which Pricer was ordered to pay damages with a total amount of SEK 1.9 M plus interest. The amount is less than one tenth of the amount requested by ProMargin. Each party shall according to the award carry its own costs for the arbitration proceedings. The damage amount will be accounted for in 2011. All other costs have been accounted for as incurred.
“I am pleased with the limited amount awarded and particularly that this case can now be put behind us”, says CEO Fredrik Berglund in a commentary.
For further information, please contact:
Fredrik Berglund, CEO or Harald Bauer, CFO at Pricer AB: +46 8 505 582 00
In its capacity as issuer, Pricer AB is releasing the information in this press release in accordance with the Swedish Securities Exchange Act (2007:528).
The information was distributed to the media for publication at 08:50 hrs CET on Friday, February 10th, 2012.
Pricer provides the retail industry’s leading electronic display and Electronic Shelf Label (ESL) platform, solutions, and services for intelligently communicating, managing, and optimizing price and product information on the retail floor. Pricer is the only company today offering a communication platform that supports both segment based ESL and pixel-based ESL. The platform is based on a two-way communication protocol to ensure a complete traceability and effective management of resources. The Pricer system significantly improves consumer benefit and store productivity by simplifying work in the store.
Pricer, founded in 1991 in Uppsala, Sweden, offers the most complete and scalable ESL solution. Pricer has installations in more than 40 countries with the largest ESL world market share. Customers include many of the world’s top retailers and some of the foremost retail chains in Europe, Japan and the USA. Pricer, in co-operation with qualified partners, offers a totally integrated solution together with supplementary products, applications and services.
Pricer AB (publ.) is quoted on the Nordic Small Cap list of OMX. For further information, please visit www.pricer.com
Pricer AB (publ) Website: www.pricer.com
Bergkällavägen 20-22 Telephone: +46 8 505 582 00
SE-192 79 Sollentuna Corporate Identity number: 556427-7993