Court dismisses six of the seven grievances but orders Samar to repay €250k to TIE

Amsterdam, October 10, 2012

Today the court has decided that Samar needs to repay TIE an amount of €250k. However, the court has dismissed six of the seven grievances submitted by TIE.

“The amount of €250k was previously paid in advance by TIE to Samar in relation to damages Samar incurred related to kitchen inventory. This verdict is a step in a long procedure. With this verdict, we cannot yet leave the past completely behind. But we will fully focus on the future and continue to move forward.” said Mr. Jan Sundelin, CEO of TIE.

Since December 2007, the company has been involved in discussions and subsequently in legal proceedings with Samar. All claims in the summary proceedings were instantly dismissed at the court hearing of February 15, 2008. On July 7, 2010, the court of Haarlem unexpectedly granted all claims by Samar.  In Q4_2010, TIE paid damages to Samar of €804k. In April 2012, a hearing took place for which in advance both TIE and Samar have provided the court with substantiated findings.

Profile TIE Kinetix
TIE Kinetix transforms the digital supply chain by providing Total Integrated E-commerce solutions. These solutions maximize revenue opportunities by minimizing the energy required to market, sell and deliver online. Customers and partners of TIE Kinetix constantly benefit from innovative, field tested, state-of-the-art technologies, which are backed by over 25 years of experience and prestigious awards. TIE Kinetix makes technology to perform, such that customers and partners can focus on their core business.

TIE Kinetix is a public company (NYSE Euronext: TIE Holding), and has offices in the United States, the Netherlands, France and Australia.

Further information:

TIE Kinetix
TIE Holding N.V.
Antareslaan 22-24
2132 JE Hoofddorp
Nederland

T:         +31-20-658 90 00
F:         +31-20-658 90 01
E:         info@TIEKinetix.nl
W
:        www.TIEKinetix.nl

Follow TIE Holding on Twitter: twitter.com/tieholdingnv
Follow TIE Kinetix on Twitter: twitter.com/tiekinetix
Follow us on Facebook: facebook.com/tiekinetix