EANS-Adhoc: Joint Venture of Kapsch TrafficCom and CTS EVENTIM quantifies its claims against the Federal Republic of Germany to approx. EUR 560 millions.
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Joint Ventures/Cooperation/Collaboration/Government
Contracts/Justice/Processes/Contracts
19.12.2019
Vienna/Munich - autoTicket GmbH is the project company for the implementation of
infrastructure levies contemplated by the Federal Republic of Germany (tolling
system for passenger vehicles - so-called "Pkw-Maut"). It is a 50/50 joint
venture of Kapsch TrafficCom AG and CTS EVENTIM AG & Co. KGaA as shareholders.
Following the unilateral termination of the operating agreement regarding the
infrastructure levies with effect as of 30 September 2019 by the German Federal
Ministry of Transport and Digital Infrastructure, autoTicket GmbH and its two
shareholders decided today that the contractually agreed payment claims against
the Federal Republic of Germany amount to a total of approx. EUR 560 millions
and to assert claims in this amount in several steps now.
autoTicket GmbH and its shareholders Kapsch TrafficCom AG and CTS EVENTIM AG &
Co. KGaA are convinced that autoTicket GmbH has a compensation claim due to the
present early termination of the agreement by the Federal Republic of Germany,
equal to the loss of profits over the term of the agreement. In addition the
operating agreement provides for a compensation of the costs arising from the
termination of the agreement which includes compensation claims of
subcontractors. Such subcontractors include - to varying degrees - Kapsch
TrafficCom AG and CTS EVENTIM AG & Co. KGaA as well as some of their affiliated
companies.
The operating agreement provides for an efficient procedure for dispute
resolution: First an independent auditor shall validate the amount of the
asserted loss of profits. Thereafter, settlement negotiations with the Federal
Republic of Germany are contemplated. In the event of failure of this procedure,
the claim will be finally decided in arbitration.
Further inquiry note:
Press contact:
Carolin Treichl
Executive Vice President Marketing & Communications
Kapsch Aktiengesellschaft
Am Europlatz 2, 1120 Vienna, Austria
P +43 50811 1710
carolin.treichl@kapsch.net
Investor contact:
Hans Lang
Investor Relations Officer
Kapsch TrafficCom AG
Am Europlatz 2, 1120 Vienna, Austria
P +43 50 811 1122
ir.kapschtraffic@kapsch.net
end of announcement euro adhoc
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issuer: Kapsch TrafficCom AG
Am Europlatz 2
A-1120 Wien
phone: +43 1 50811 1122
FAX: +43 1 50811 99 1122
mail: ir.kapschtraffic@kapsch.net
WWW: www.kapschtraffic.com
ISIN: AT000KAPSCH9
indexes:
stockmarkets: Wien
language: English