Acta Holding ASA - Ruling received regarding non-competition case

Reference is made to stock exchange announcement on September 20 2005 where it was informed that Acta ASA, a subsidiary of Acta Holding ASA, had taken four prior employees to court in order to prevent incompliance with the non-competition clause in their former Acta employment contracts, as the four employees were engaged in the management of Verdispar. The Nedre Romerike court ruled in favour of Acta in all matters. The four former employees were prohibited from taking part in establishing, operating and to participate in Verdispar. The four former employees also had to cover Actas legal expenses. The four former employees appealed the case.
 
The ruling from the Eidsivating Lagmannsrett has now been received. This higher court confirms the lower courts ruling in all material matters. It finds that it is probable that Verdispar has contacted Actas clients in a systematic manner and that client lists from Acta have been used actively. It also states that the lower courts ruling regarding non-competiotion for Acta clients is still valid. Lagmannsretten also confirmes that one of the four former employees violated the non-competition clause when he was employed as managing director in Verdispar Rådgivning AS. As the start-up period for Verdispar is completed, Lagmannsretten will limit the non-competition clause with regard to employment in Verdispar to the managing director position.

The four former employees will cover Actas legal expenses in the lower court, while both parties will carry their own legal expenses in Lagmannsretten.
 
Actas management is pleased that two courts have ruled in Actas favour in regard to serious incompliance with the non-competition clause and how Verdispar has approached Actas clients. Acta will evaluate if further legal actions will be taken.

Stavanger, 21 February 2006
Simen Mørdre
Acta Holding ASA
Tlf: +47 90 86 85 62
E-mail: simen.mordre@acta.no   
 
 

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Agasti Holding ASA is a listed company without any operational activity or employees. The company is in liquidation.

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