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Jelmoli (JMLIF.PK) Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Jelmoli Holding AG ("Jelmoli"), acting on its own behalf and on behalf of its relevant subsidiaries ("the Jelmoli Group") on the one side, and Empario Holding GmbH ("Empario"), Delek Global Real Estate Limited (holding indirectly 33.33% of the share capital of Empario), Delek Belron International Limited (holding indirectly 16.67% of the share capital of Empario)and Blenheim Properties Group Limited (holding indirectly 50% of the share capital of Empario) ("the Delek Blenheim Group"), each acting on its own behalf and on behalf of its relevant subsidiaries on the other side, after conducting negotiations to settle all their mutual claims and counterclaims relating to the sale and purchase agreement signed between Jelmoli and Empario on 31 July 2007 ("the SPA") as well as the arbitration which has been commenced by Jelmoli against the Delek Blenheim Group ("the Arbitration"), have agreed as follows:
1. As a final settlement of all their mutual claims, one against the other, including claims of or against all their relevant subsidiaries, shareholders, directors and officers, relating to the SPA and the Arbitration, Delek Blenheim Group shall pay to Jelmoli an amount of CHF 21.5 million ("the Settlement Amount") and the Delek Blenheim Group shall waive the re-payment of the down-payment made to the Jelmoli Group and being the subject matter of the counterclaim. 2. The Delek Blenheim Group together with the Jelmoli Group ("the Parties") shall draft, within the near future, the detailed agreement based on the agreement stated in paragraph 1 above and paragraph 4 below ("the Detailed Agreement"). 3. The arbitrators' tribunal shall be requested by the Parties to sanction the Detailed Agreement in the form of a consent award. 4. Each of the Parties shall bear its own legal costs and the Parties shall share in equal parts the costs and expenses of the Arbitration proceedings.
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WKN: 851225; ISIN: CH0000668464; Index: SMCI, SPI, SPIEX; Listed: Main Market in SWX Swiss Exchange;
