EQS-Ad-hoc: SPORTTOTAL AG / Key word(s): Legal Matter SPORTTOTAL AG releases litigation provisions of around EUR 1.8 million 08-Dec-2022 / 16:57 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
SPORTTOTAL AG releases litigation provisions of around EUR 1.8 million
Cologne, December 8, 2022. SPORTTOTAL AG (“Company”) has reached a settlement in a legal dispute with a former business partner. The Company today took receipt of the relevant court ruling. The Company is therefore in a position to release provisions of around EUR 1.8 million set up for this lawsuit in 2019. An unscheduled effect on earnings will therefore be achieved in the total amount of the provisions released. The parties have otherwise agreed to keep the content of the settlement confidential.
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08-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
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1508743 08-Dec-2022 CET/CEST