Ann: GENERAL: NWF: Final Warranty Settlement between Windflow and NZ Windfarms

• Release Date: 02/12/15 10:12
• Summary: GENERAL: NWF: Final Warranty Settlement between Windflow and NZ Windfarms
• Price Sensitive: No
• Download Document  1.07KB

					NWF
02/12/2015 10:12
GENERAL
NOT PRICE SENSITIVE
REL: 1012 HRS NZ Windfarms Limited

GENERAL: NWF: Final Warranty Settlement between Windflow and NZ Windfarms

NZ Windfarms Limited (NWF) has been advised by Windflow Technology Limited
(WTL) that the resolutions supporting the conditional settlement of all
outstanding matters between the two companies were passed at shareholder and
security holder meetings held on 30 November 2015. The agreement is now
unconditional.

The agreement settles all matters and outstanding sums owing between the two
companies, relating to the warranties that WTL provided in the 2005 sale and
purchase agreement and subsequent related agreements.  This is  a  full
and  final  settlement and  will  result  in  the termination of two
arbitrations initiated by NWF in 2014.

Now that full and final settlement has been reached, the two companies look
forward to a mutually beneficial ongoing relationship.

ENDS
For further enquiries contact:
Chris Sadler
Chief Executive Officer
Ph (021) 918 216
End CA:00274496 For:NWF    Type:GENERAL    Time:2015-12-02 10:12:18