Arbitration decision in favour of IDEX Biometrics
28 januari, 10:05
In the Prospectus published by IDEX Biometrics ASA (“IDEX” or the “Company”) on 13 November 2024, IDEX informed that the Company had requested arbitration at the Oslo Chamber of Commerce concerning a receivable from a customer who had not yet paid. Zwipe AS (“Zwipe”), the customer in question, disclosed in its prospectus dated 4 December 2024 that it was in arbitration regarding a warranty dispute with IDEX related to the delivery of parts communicated in its annual report 2023 and that the total dispute amount was around NOK 7.1 million.
The Oslo Chamber of Commerce has on 27 January 2025, rendered its decision on the matter, which is a final resolution of the dispute. Zwipe has been ordered to pay USD 702,000 excl. VAT to lDEX plus late payment interest. The warranty counterclaim from Zwipe was dismissed in its entirety. Zwipe was further ordered to compensate IDEX for its legal costs, and pay for the full arbitration costs.
Zwipe shall pay IDEX the receivable and the award of legal fees within 14 days from the date of the decision.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Marianne Bøe, Head of Investor Relations on 28 January 2025 at 10:05 (CET).
For further information contact:
Marianne Bøe, Head of Investor Relations, +47 91800186
Kristian Flaten, CFO, +47 95092322
E-mail:ir@idexbiometrics.com
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
Trademark Statement
IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.
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Arbitration decision in favour of IDEX Biometrics
28 januari, 10:05
In the Prospectus published by IDEX Biometrics ASA (“IDEX” or the “Company”) on 13 November 2024, IDEX informed that the Company had requested arbitration at the Oslo Chamber of Commerce concerning a receivable from a customer who had not yet paid. Zwipe AS (“Zwipe”), the customer in question, disclosed in its prospectus dated 4 December 2024 that it was in arbitration regarding a warranty dispute with IDEX related to the delivery of parts communicated in its annual report 2023 and that the total dispute amount was around NOK 7.1 million.
The Oslo Chamber of Commerce has on 27 January 2025, rendered its decision on the matter, which is a final resolution of the dispute. Zwipe has been ordered to pay USD 702,000 excl. VAT to lDEX plus late payment interest. The warranty counterclaim from Zwipe was dismissed in its entirety. Zwipe was further ordered to compensate IDEX for its legal costs, and pay for the full arbitration costs.
Zwipe shall pay IDEX the receivable and the award of legal fees within 14 days from the date of the decision.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Marianne Bøe, Head of Investor Relations on 28 January 2025 at 10:05 (CET).
For further information contact:
Marianne Bøe, Head of Investor Relations, +47 91800186
Kristian Flaten, CFO, +47 95092322
E-mail:ir@idexbiometrics.com
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
Trademark Statement
IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.
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