GN Store Nord A/S - Selskabsmeddelelse
DPTG tildelt ca. DKK 2,9 mia. i voldgiftssagen mod Telekomunikacja Polska S.A. (TPSA) for perioden 1994-medio 2004
Voldgiftsretten i Wien afsagde i dag kendelse i voldgiftssagen mod
Telekomunikacja Polska S.A. (TPSA), som GN Store Nord via sin ejerandel på 75%
i DPTG I/S er involveret i. Sagen vedrører fastsættelsen af den mængde trafik,
der overføres via det fiberoptiske NSL-telekommunikationssystem i Polen. DPTG
er berettiget til 14,8% af overskuddet fra NSL. TPSA er en polsk
telekommunikationskoncern, som France Telecom har en bestemmende ejerandel i.
Voldgiftsretten i Wien har i dag afsagt kendelse og tilkendt DPTG I/S DKK 2,0
mia. plus renter for perioden 1994-medio 2004 (fase 1). GN's foreløbige estimat
på renter for fase 1 er DKK 0,9 mia., og det totale beløb, som DPTG er
tilkendt, er derfor ca. DKK 2,9 mia. Baseret på denne beregning, modtager GN
ca. DKK 2,2 mia. før skat. Det svarer til et beløb på ca. DKK 1,9 mia. efter
skat og kapitaliserede juridiske omkostninger. Ifølge kendelsen skal beløbet
være betalt inden for 14 dage fra voldgiftsrettens afgørelse.
Bestyrelsesformand Per Wold-Olsen udtaler: Vi er yderst tilfredse med, at
processen er afsluttet. Provenuet vil i første omgang blive anvendt til at
tilbagebetale selskabets gæld eller blive beholdt som kontant beholdning. Vi
har naturligvis, mens vi afventede afgørelsen, brugt meget tid på at overveje,
hvordan vi kan anvende pengene for at tilgodese vores aktionærers interesse
bedst muligt, inklusive overvejelser om forskellige strategiske muligheder. Nu
hvor kendelsen er afsagt, vil vi omhyggeligt færdiggøre vores overvejelser. En
anbefaling vil blive fremsat i forslagene til den ordinære generalforsamling i
starten af 2011.
Den 28. august 2009 indgav DPTG et krav på DKK 5,0 mia. inklusive påløbne
renter for fase 1 baseret på voldgiftsrettens instruks om, hvordan kravet
skulle beregnes.
Afgørelsen fra voldgiftsretten i Wien omfatter som nævnt fase 1. Efter en
grundig analyse af kendelsen for fase 1 vil DPTG beregne og indgive yderligere
krav for den resterende aftaleperiode fra medio 2004 til 2009 (fase 2) baseret
på det rationale, som er blevet anvendt i fase 1.
Der gøres opmærksom på, at de estimerede skyldige renter på DKK 0,9 mia. er
baseret på en foreløbig udregning på baggrund af principperne i kendelsen, som
netop er modtaget. Sammen med vores juridiske eksperter, vil GN nu lave en
grundig analyse af kendelsen, inklusive en udregning af renter. GN forventer
ikke, at analysen vil ændre vores fortolkning af kendelsen.
I forbindelse med dagens afgørelse vil der blive afholdt en telekonference
mandag den 6. september 2010, kl. 10.00 - se www.gn.com for yderligere
detaljer.
For yderligere oplysninger, kontakt venligst:
Mikkel Danvold
Director, IR & Kommunikation
GN Store Nord A/S
Telefon: 45 75 02 71
3/9 2010 23:00 masha 0
32873 Kan ikke få kursen til at hænge sammen med værdierne, men det håber jeg så andre kan. Sagerne i Polen (kun den første del blev afgjort hermed) vil give dem ca. 3 mia lige ned i kassen samt den fortsatte værdi af going concern DPTG I/S ejet sammen med TDC. Dertil kommer sagen mod Tyskland som er så pinlig for dem at den vel giver en tredjedel af kravet. Det er så tilsammen mere en halvdelen af selskabets værdi..... der så indeholder Resound som for ikke mange år tilbage blev solgt til XX mia. DER ER noget der ikke stemmer når man samtidigt venter en EBITDA på ca. 0,5 mia i år.... Noget der ikke stemmer. GN er Schouw2 :)
Den begynder at virke lidt mere attraktivt, men tak skæbne hvor har jeg brændt fingrene på den mange gange.
Jeg har ikke fulgt den længe, men deres indtjening er ikke så stærk vel? Er den virkeligt oppe på en halv mia?
Vi må lige analysere den!
Jeg har ikke fulgt den længe, men deres indtjening er ikke så stærk vel? Er den virkeligt oppe på en halv mia?
Vi må lige analysere den!
5/9 2010 21:54 colombuss 032925 Jeg husker da Gn efter at de solgte Sonofon for 10 milliarder, brugte det samme beløb til at købe et fransk selskab inden for noget fiber optik. Jeg var dengang den eneste skribent på EI der var ved at få et føl på tværs, over den sidste beslutning, var det Lindegaard han hed direktøren, han røg til SAS.
En af de største fejlindkøb i dansk erhevershistorie, som desværre er gået helt i glemmebogen.
Men mon ikke der er nogen skepsis nogle steder i markedet, om hvordan GN vil forvalte endnu en stor pose penge?
En af de største fejlindkøb i dansk erhevershistorie, som desværre er gået helt i glemmebogen.
Men mon ikke der er nogen skepsis nogle steder i markedet, om hvordan GN vil forvalte endnu en stor pose penge?
4/9 2010 13:49 moimoi 032894 Her er så taberens udlægning:
http://www.tp-ir.pl/Display.aspx?MasterId=e2462f59-5d7d-43e8-a06e-ce24b5b5a199&NavigationId=969
Snakker om at de undersøger mulige juridiske skridt mod voldgiftretten...?
Havde faktisk fået den opfattelse - at en voldgift dom var final... ??
De vil få rigtigt svært ved at omstøde en 9 årig proces ved den voldgift. Den overstiger deres hensættelser med 457 mln polske.
Jeg hæfter mig også at der nu skal køre en proces om 2004 til 2009, kan det betyde at der kan komme 1,5 mia til?
Pursuant to art. 56, clause 1, item 1 of the Law of July 29, 2005 on public offering and the conditions for introducing financial instruments to the organised trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539 with amendments), the Management Board of Telekomunikacja Polska S.A. (“TP S.A”) informs about the partial decision issued in arbitration proceedings between TP S.A and DPTG.
TP S.A. is considering legal action against the arbitration decision granting an equivalent of PLN 1,568mn to Danish Polish Telecommunications Group.
Today’s partial decision should not have any impact on TP S.A.’s dividend policy and targeted benefits of its medium-term action plan as disclosed on February 23, 2010
On September 3, 2010; 5 PM CET, a partial decision has been issued in arbitration proceedings before the Arbitration Tribunal in Vienna (Austria) in the case of Telekomunikacja Polska S.A (“TP S.A.”) vs. Danish Polish Telecommunications Group (“DPTG”).
The dispute arose in 2001 with respect to a contract concluded in 1991 by TP S.A.’s legal predecessor, the then state-owned enterprise Poczta Polska Telegraf i Telefon, with DPTG (currently owned as to 75% by GN Nord and 25% by TDC), over the interpretation of a contract for the sale and installation by DPTG of a fiber-optic system known as North-South Link (“NSL”). The contract provided for payment of part of the contract price (approximately €17mn) by allocating to DPTG 14.8% of certain revenue from the NSL over a period of 15 years from February 1994 to January 2009. In 1999, the parties came to a disagreement regarding the calculations of the revenue. In 2001, DPTG filed ad hoc arbitration proceedings before the Arbitration Tribunal (under the United Nations Commission on International Trade Law “UNCITRAL” Rules) in Vienna.
The total amount due to DPTG according to today’s partial decision, for the period from February 1994 to June 2004, is, after currency conversions, approximately DKK 2,946mn (approx €396mn), or PLN equivalent of 1,568mn. It covers the settlement of the NSL revenues in the period from February 1994 to June 2004 (DKK2,000,890,629 or the equivalent of PLN 1,065mn), interest at the contractual rate of 6% amounting up to the date of this report to DKK 913,135,119 or PLN equivalent of 486mn, and part of the costs of proceedings amounting to DKK 31,779,176 (approximately PLN 17mn) that the Arbitral Tribunal awarded to DPTG.
As reported since 2001 in its consolidated financial statements periodically filed with the Warsaw Stock Exchange, TP S.A.’s management has made what it considers to be an appropriate provision for this matter; it was based on a proper interpretation and application of the contract as supported by outside Counsel and other professional advisers. The amount arising from today’s decision exceeds the total provision made by TP S.A.’s management by approximately PLN 467 mn.
As a consequence, it will negatively impact TP S.A.’s consolidated net income for the nine months ending September 30, 2010 and for the full year ending December 31, 2010. The Net Free Cash Flow objectives set forth by TP Group on July 28, 2010 upon reporting its results for the first half year ended June 30, 2010, remain valid as it was stated excluding exceptional items and unpredicted regulatory impacts.
The Management Board of TP S.A. will diligently conduct the necessary evaluations needed to revise the said provision, which should be made in connection with today’s decision and also in connection with the claim for the period from July 2004 to January 2009 (“phase two”). The adjustment to provisions for claims, litigations, risks and other charges will be reflected in the financial statements for the nine months ending September 30, 2010.
Today’s decision was issued after nine years of arbitration proceedings. During this time, TP S.A. consistently contested both the basis of the claimant’s case and, in particular, its interpretation of the contract, as well as the amount it claimed.
The Management of TP S.A. is presently evaluating the possible legal actions to challenge the Arbitral Tribunal’s decision and its enforceability. The decision regarding further legal steps will be made public as soon as possible
DPTG’s claim for the period from July 2004 to January 2009 will be dealt with in a second phase of the arbitration proceedings, unless the parties settle them by negotiation.
The above-mentioned decision and TP S.A.’s current best estimates of its consequences concerning phase 2 should not have any impact on TP S.A.’s dividend policy and targeted benefits of its medium-term action plan as disclosed on February 23, 2010.
Jeg hæfter mig også at der nu skal køre en proces om 2004 til 2009, kan det betyde at der kan komme 1,5 mia til?
Pursuant to art. 56, clause 1, item 1 of the Law of July 29, 2005 on public offering and the conditions for introducing financial instruments to the organised trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539 with amendments), the Management Board of Telekomunikacja Polska S.A. (“TP S.A”) informs about the partial decision issued in arbitration proceedings between TP S.A and DPTG.
TP S.A. is considering legal action against the arbitration decision granting an equivalent of PLN 1,568mn to Danish Polish Telecommunications Group.
Today’s partial decision should not have any impact on TP S.A.’s dividend policy and targeted benefits of its medium-term action plan as disclosed on February 23, 2010
On September 3, 2010; 5 PM CET, a partial decision has been issued in arbitration proceedings before the Arbitration Tribunal in Vienna (Austria) in the case of Telekomunikacja Polska S.A (“TP S.A.”) vs. Danish Polish Telecommunications Group (“DPTG”).
The dispute arose in 2001 with respect to a contract concluded in 1991 by TP S.A.’s legal predecessor, the then state-owned enterprise Poczta Polska Telegraf i Telefon, with DPTG (currently owned as to 75% by GN Nord and 25% by TDC), over the interpretation of a contract for the sale and installation by DPTG of a fiber-optic system known as North-South Link (“NSL”). The contract provided for payment of part of the contract price (approximately €17mn) by allocating to DPTG 14.8% of certain revenue from the NSL over a period of 15 years from February 1994 to January 2009. In 1999, the parties came to a disagreement regarding the calculations of the revenue. In 2001, DPTG filed ad hoc arbitration proceedings before the Arbitration Tribunal (under the United Nations Commission on International Trade Law “UNCITRAL” Rules) in Vienna.
The total amount due to DPTG according to today’s partial decision, for the period from February 1994 to June 2004, is, after currency conversions, approximately DKK 2,946mn (approx €396mn), or PLN equivalent of 1,568mn. It covers the settlement of the NSL revenues in the period from February 1994 to June 2004 (DKK2,000,890,629 or the equivalent of PLN 1,065mn), interest at the contractual rate of 6% amounting up to the date of this report to DKK 913,135,119 or PLN equivalent of 486mn, and part of the costs of proceedings amounting to DKK 31,779,176 (approximately PLN 17mn) that the Arbitral Tribunal awarded to DPTG.
As reported since 2001 in its consolidated financial statements periodically filed with the Warsaw Stock Exchange, TP S.A.’s management has made what it considers to be an appropriate provision for this matter; it was based on a proper interpretation and application of the contract as supported by outside Counsel and other professional advisers. The amount arising from today’s decision exceeds the total provision made by TP S.A.’s management by approximately PLN 467 mn.
As a consequence, it will negatively impact TP S.A.’s consolidated net income for the nine months ending September 30, 2010 and for the full year ending December 31, 2010. The Net Free Cash Flow objectives set forth by TP Group on July 28, 2010 upon reporting its results for the first half year ended June 30, 2010, remain valid as it was stated excluding exceptional items and unpredicted regulatory impacts.
The Management Board of TP S.A. will diligently conduct the necessary evaluations needed to revise the said provision, which should be made in connection with today’s decision and also in connection with the claim for the period from July 2004 to January 2009 (“phase two”). The adjustment to provisions for claims, litigations, risks and other charges will be reflected in the financial statements for the nine months ending September 30, 2010.
Today’s decision was issued after nine years of arbitration proceedings. During this time, TP S.A. consistently contested both the basis of the claimant’s case and, in particular, its interpretation of the contract, as well as the amount it claimed.
The Management of TP S.A. is presently evaluating the possible legal actions to challenge the Arbitral Tribunal’s decision and its enforceability. The decision regarding further legal steps will be made public as soon as possible
DPTG’s claim for the period from July 2004 to January 2009 will be dealt with in a second phase of the arbitration proceedings, unless the parties settle them by negotiation.
The above-mentioned decision and TP S.A.’s current best estimates of its consequences concerning phase 2 should not have any impact on TP S.A.’s dividend policy and targeted benefits of its medium-term action plan as disclosed on February 23, 2010.
5/9 2010 15:44 runski 032914 Fuldstændig rigtig der kommer en 2.runde, det vil nok ikke tage så lang tid som denne, da man vil bruge samme udregningsmetode som netop anvendt.
sent from iPhone
sent from iPhone
5/9 2010 21:48 colombuss 032924 Måske en god ide at afvente køb indtil det er afklaret om de vil betale, eller forsøge at trække sagen yderligere.
Ja så kom der mere nyt. 600 mill i aktietilbagekøb og venter yderligere en milliard fra perioden 2004 til 2009 fra TPSA.
