HeiQ PLC Statement Confirming Settlement (1979V)

TIDMHEIQ

RNS Number : 1979V

HeiQ PLC

30 November 2023

This announcement contains inside information

30 November 2023

HeiQ Plc

("HeiQ" or "the Company")

Statement Confirming Settlement

HeiQ Plc (LSE: HEIQ), a leading company in materials innovation and hygiene technologies, provides the below update regarding the resolution of litigation and the termination of an exclusive agreement between its subsidiary HeiQ Materials AG and ICP Industrial Inc. ("ICP").

The Company has reached a settlement of the litigation with ICP, which includes dismissal of claims and counterclaims by both parties with prejudice. ICP has agreed to pay HeiQ Plc a total of USD $2.75 million. This settlement has been reached without admission of liability by either party and is accompanied by mutual general releases, and resolves all outstanding matters between the parties.

Following this statement, no further comment will be made.

For further information, please contact:

 
 HeiQ Plc                                    [phone] 
  Carlo Centonze (CEO)                        50 
 Cavendish Securities Plc (Broker)           [phone] 
  Stephen Keys / Callum Davidson              8900 
                                            ------------------ 
 SEC Newgate (Media Enquiries)               [phone] 
  Elisabeth Cowell / Tom Carnegie / Molly     6882 
  Gretton                                     HeiQ@s ecnewgate 
                                              .co.uk 
                                            ------------------ 
 

About HeiQ

HeiQ is a Swiss-based international company that innovates pioneering and differentiating materials in partnership with established global brands. We bridge the academic and commercial worlds to conceive performance-enhancing materials and technologies, working with aligned brands to research, manufacture and bring products to market, aiming for lab to consumer in months. Our goal is to improve the lives of billions by innovating the materials that go into everyday products, making them more hygienic, comfortable, protective, and sustainable.

Our strong IP portfolio positions us as an innovation leader for niche, premium and high-margin products in the textile chemicals, man-made fibers, paints and coatings, antimicrobial plastics, probiotics and household cleaner markets. We have also expanded into healthcare facilities, probiotic cleaning, and hygiene coatings markets to help make hospitals and healthcare environments more hygienic

We have developed over 200 technologies in partnership with 300 major brands. With a substantial research and development pipeline, including key technology development projects HeiQ AeoniQ, HeiQ ECOS, HeiQ GrapheneX, and HeiQ Synbio, HeiQ aims to deliver shareholder value through sales growth and entry into new lucrative markets through disruptive innovation and M&A.

We have built a strong reputation for ESG & sustainable innovation, having won multiple awards including the Swiss Technology Award twice and the Swiss Environmental Award. Under experienced leadership, we are committed to driving our profit in close connection with people and the planet. For more information, please visit www.heiq.com .

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November 30, 2023 02:06 ET (07:06 GMT)