Hunter Group ASA - Patent Infringement Action Brought Against Dwellop AS
Hunter Group ASA's wholly-owned subsidiary Dwellop AS has been notified by the Oslo District Court that Wellpartner AS has initiated legal proceedings against the company, alleging that Dwellop AS has infringed upon patent NO 336036, belonging to Wellpartner AS. The patent relates to Heave Compensation Systems. Wellpartner AS has requested an injunction in respect of Dwellop AS' Heave Compensated Tension Frame technology and damages/consideration for the alleged infringement. Dwellop AS disputes that there is any infringement of the patent and disputes Wellpartner’s claims in entirety.
Under the share purchase agreement for the sale of Dwellop AS dated 2 May 2017, the Majority Sellers (meaning sellers representing approximately 89.3% of the share capital of Dwellop AS) have indemnified Hunter Group ASA from and against any losses, costs or expenses incurred in connection with the said dispute.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Oslo, 23 June 2017
For further information, please contact:
Vegard Urnes, CEO of Hunter Group ASA, at +47 905 85 432 or email@example.com