Further re Termination of Chinese Distribution ...

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[{"type":"text","content":"\n \n15 February  2016\n\nWindar Photonics plc(the “Company”, “Windar Photonics” or the “Group”)\n\nFurther re. Termination of Chinese distribution agreement\n\nFurther to the announcement on 22 January 2016 in which the Company advised that it had given six months’ notice to terminate the exclusive distribution agreement, which is subject Danish law, with LSAP Holdings AG (known as “TRES Wind”), because the necessary sales level target for 2015 set out in such agreement had not been achieved.  \n\nThe Company notes that TRES Wind has responded by claiming that there is a case of unjustified termination, conducted in a manner that is not in accordance with the terms of the agreement and that it would be reserving its rights under the agreement.\n\nThe Company has received Danish legal advice that the challenge by TRES Wind is unsubstantiated and has rejected the claim.\n\nFor further information:\n\n\n\nWindar Photonics plc\nMartin Rambusch, CEO\n+45 2168 9476 \n\n\n\nSanlam Securities UK Limited(Nomad and Broker)\nDavid Worlidge\n+44 (0)20 7628 2200 \n\n\n\nhttp://investor.windarphotonics.com\n\n ","length":1758,"tagName":"div"}]

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