Swedish city court judgement fulfilled by M3CS

    Swedish city court judgement fulfilled by M3CS

Company announcement no. 4/2024

Reference is made to the judgement rendered by the Swedish city court on 24 January 2024 in favour of Columbus in which the court held that the company M3CS AB and its founders had acted unlawfully and were liable to pay damages and costs to Columbus in the range of SEK 43-45m. All parties’ subsequently appealed the judgement.

On the date hereof, M3CS AB has fulfilled the judgement by payment of SEK 44,801,607 to Columbus and M3CS AB has withdrawn the appeal proceedings. It is expected that the founders of M3CS AB also will withdraw their appeal as a consequence of M3CS AB’s fulfilment of the judgement. Subject to the parties’ completion of the formal procedure to cancel the appeal case in Sweden, which will include a cancellation of the appeal by Columbus, the judgement of the Swedish court will thus be final.

Ib Kunøe                        Søren Krogh Knudsen
Chairman of the Board                CEO & President

For further information, please contact: CEO & President, Søren Krogh Knudsen, [phone]

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