Legal Proceedings Report • Jul 29, 2024
Legal Proceedings Report
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ACOMO N.V. (Acomo), the Euronext Amsterdam-listed diversified, plant-based food ingredients Group, announces that in a legal proceeding filed by a supplier with the Dutch court against one of its subsidiaries, Tradin Organic Agriculture B.V. ("Tradin"), an interlocutory judgment was rendered on 24 July 2024. In the proceedings, the supplier claims damages for breach and early termination of a business relationship relating to the supply of organic products. The damages claimed are approximately EUR 55 million, predominantly based on a penalty clause. In turn, Tradin also has claims against this supplier.
In the July 24, 2024 interlocutory judgment, it was provisionally ruled:
Acomo expects that the amount ultimately owed to the supplier, should the case be definitively decided in its favour, will be less than EUR 1 million in principal.
In turn, Tradin has a favourable but not yet final judgment from an English court dated 24 June 2024, confirming a previous default judgment against the supplier, pursuant to which the supplier currently owes Tradin over EUR 1.5 million.
The lawsuit is not expected to affect Acomo's day-to-day operations.
This press release contains information that qualifies as inside information within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014).
For further information, please contact:
Mr A.W. Goldschmeding WTC, Beursplein 37 3011 AA Rotterdam The Netherlands
[email protected] Tel. +31 10 4051195
www.acomo.nl
Creative Venue PR
Mr F.J.M. Witte, spokesperson Sophialaan 43 1075 BM Amsterdam The Netherlands
[email protected] Tel. +31 20 4525225
www.creativevenue.nl
ACOMO N.V. is an international group with as its principal business the sourcing, trading, treatment, processing, packaging, and distribution of conventional and organic plant-based food ingredients. Our main subsidiaries are Catz International B.V. in Rotterdam, the Netherlands (spices and food raw materials), The Organic Corporation B.V. in Amsterdam, the Netherlands, and Tradin Organics USA LLC in Aptos, USA (organic ingredients), Royal Van Rees Group B.V. in Rotterdam, the Netherlands (tea), Red River Commodities Inc. in Fargo, USA, Red River Global Ingredients Ltd. in Winkler, Canada, Red River-van Eck B.V. in Etten-Leur, the Netherlands, Food Ingredients Service Center Europe B.V. in Etten-Leur, the Netherlands, and SIGCO Warenhandelsgesellschaft mbH in Hamburg, Germany (edible seeds), King Nuts B.V. in Bodegraven, Delinuts B.V. in Ede, and Tovano B.V. in Maasdijk, the Netherlands (nuts), and Snick EuroIngredients N.V. in Ruddervoorde, Belgium (food solutions). Acomo shares have been traded on Euronext Amsterdam since 1908.
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