NYAB Plc: Settlement agreement with the City of Mikkeli has been executed
NYAB Plc
INVESTOR NEWS
11 May 2023 at 16:20
NYAB Plc: Settlement agreement with the City of Mikkeli has been executed
NYAB group company NYAB Finland Oy and the City of Mikkeli signed a settlement agreement on 13 April 2023. The agreement was signed with the aim of settling the dispute between NYAB Finland Oy and Mikkeli Waterworks, a municipal enterprise owned by the City of Mikkeli, that had been subject to legal proceedings. Resolution of Mikkeli City Board on the approval of the settlement agreement has become final today, on 11 May 2023, with which the agreement has been executed.
According to terms and conditions of the agreement, Mikkeli Waterworks shall pay NYAB a total compensation of EUR 9.2 million. NYAB reports a positive cash flow impact of approximately EUR 9.2 million and a positive non-recurring result impact of approximately EUR 3.6 million for the second quarter.
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About NYAB Oyj
NYAB is a builder of a clean future with decades of experience in complex and demanding projects. We are enabling green transition in the Nordics by providing engineering, construction, and maintenance services to public and private sector clients regarding renewable energy and sustainable infrastructure. NYAB is headquartered in Oulu and it has more than 350 employees at different locations in Finland and Sweden.
NYAB Plc's Certified Adviser is Augment Partners AB, info@augment.se, phone +46 8 604 22 55.
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