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2007-12-27 16:45:00 CET 2007-12-27 16:45:01 CET REGULATED INFORMATION Done Solutions Oyj - Company AnnouncementDONE SOLUTIONS REACHES SETTLEMENT IN SWEDENDone Solutions Corporation Stock Exchange Release December 27, 2007, at 17.45 hrs DONE SOLUTIONS REACHES SETTLEMENT IN SWEDEN The bankrupt estate of Done Logistics AB, Done Solutions Corporation's Swedish-based subsidiary that went bankrupt in 2002, has reached settlement with Arla Foods AB on a dispute regarding securing of a claim in bankruptcy, pending at the Värmland district court since 2002. The claims lodged by Arla Foods AB were based on the alleged defects and delays in a project delivery, and the claims totalled approximately EUR 1 million. The dispute involved Done Logistics AB traversing the claims by Arla Foods AB and lodging counterclaims totalling ca EUR 0.6 million. As consequence of the settlement, Done Solutions Corporation, having granted a reguarantee on behalf of Done Logistics AB, will pay SEK 2.1 million (approximately EUR 0.22 million) to Arla Foods AB. After the payment, Done Solutions Corporation will recognize the provision of approximately EUR 0.3 million made for bankruptcy costs of Done Logistics AB, remaining on its balance sheet, in the financial statements for 2007. After the settlement and recognition, Done Solutions Corporation has reached settlement on all disputes pending and no significant cost reserves remain in the balance sheet. The settlement and recognition of the remaining provision will have a positive impact of approximately EUR 0.3 million on Done Solutions Corporation's performance for 2007. Done Solutions Corporation Olli-Pekka Salovaara President and CEO For further information, please contact: Olli-Pekka Salovaara, President & CEO, mobile +358 040 5675520 olli-pekka.salovaara@donesolutions.com http://www.donesolutions.com Distribution: Helsinki Stock Exchange Financial Supervision Authority Major media Done Solutions Corporation, listed on the OMX Helsinki Stock Exchange, is the parent company of Done Group. Done's subsidiaries focus on the provision of advanced Finnish specialist expertise and export-based operations. |
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