FLI
03/11/2015 15:06
GENERAL
NOT PRICE SENSITIVE
REL: 1506 HRS Fliway Group Limited
GENERAL: FLI: Fliway Group Settles Claim with Former Customer
New Zealand Freight and Logistics business Fliway Group Limited (NZX:FLI),
has settled the claim from a former customer that was referenced in Section
12.18 of its Prospectus dated 6th March 2015.
The terms of the settlement are bound by confidentiality, however the costs
associated with defending the claim and the settlement exceed the $250,000 de
minimis outlined in the Selling Shareholder deed of indemnity in favour of
Fliway Group.
As disclosed in the Fliway Group Prospectus, Fliway's Selling Shareholder
Indemnity covers any loss of earnings as a result of a third party claim
relating to an event that occurred before the allotment of Shares under the
Offer.
As advised in our FY2015 Earnings Announcement on 28th of August 2015, Fliway
Group had taken up a provision at the end of FY2015 of $250,000 to ensure
there would be no adverse impact if the claim was below the de minimis. This
provision will now be reversed.
For further information please contact:
Jim Sybertsma
Chief Financial Officer
Fliway Group |66 Westney Road | PO Box 73011 | Mangere 2150
DDI +64 9 255 4752 | MOB +64 275 716 464
Email [email protected] |W: www.fliway.com
End CA:00272777 For:FLI Type:GENERAL Time:2015-11-03 15:06:12
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