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Share Name | Share Symbol | Market | Type |
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Amp China Ord/Units (delisted) | ASX:AGF | Australian Stock Exchange | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
RNS Number:5917P Amer Group PLC 10 September 2003 Amer Group Plc STOCK EXCHANGE RELEASE 1(2) September 10, 2003 at 9.15 am AMER GROUP GAINS 23 MILLION USD FROM PATENT LITIGATION SETTLEMENT Further to its announcement dated 15 May 2003, Amer Group Plc has recognised a gain of 23 million USD following the amicable settlement of a patent litigation case in the U.S.A. The other party to the litigation, the Life Fitness division of Brunswick Corporation, will pay the settlement amount in two annual installments in 2003 and 2004, in return for a sublicense of the patent rights held by Precor, a part of Amer Group, to use technology for elliptical fitness equipment. The gain will be included in Amer's interim results for the period January-September 2003. Under the terms of the settlement, Brunswick shall make a payment to cover past claims in the amount of 25 million USD, of which 2 million USD will be paid to the individual inventor of the technology. In addition, Precor will receive royalties on all future sales of products by Life Fitness which are covered by the patent. Precor manufactures technically advanced low-impact fitness equipment. The company's product range includes elliptical cross-trainers, treadmills, stationary cycles, climbers, stretch trainers and strength training systems. Amer Group Plc Communications Paivi Antola Communications Manager For further information, please contact: Mr Pekka Paalanne, Senior Vice President & CFO, tel. +358 9 7257 8212 Mr Max Alfthan, Vice President, Communications, tel. +358 9 7257 8216 DISTRIBUTION: Hex Helsinki Exchanges Major media AMER GROUP PLC Amer Group is one of the world's leading sports equipment companies with its internationally recognised brands Wilson, Atomic, Suunto and Precor. All Amer Sports companies develop and manufacture technically advanced products that improve the performance of active sports participants. The Group's business is balanced by its broad portfolio of sports and presence in all major markets. In 2002 Amer Group made an operating profit of EUR 103.0 million on net sales of EUR 1,101.9 million. Earnings per share were EUR 2.95. At the end of 2002 the Company had 3,939 employees. This information is provided by RNS The company news service from the London Stock Exchange END MSCNKKKPFBKKBCD
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