Pricer AB implicated in arbitration proceedings
Pricer AB signed in 2006 a test agreement with ProMargin AB with the purpose to evaluate cooperation regarding a new business concept that ProMargin was about to develop. Pricer gave notice of termination of the cooperation in November 2007. ProMargin contests Pricer’s right to terminate the cooperation according to the test agreement. ProMargin has now initiated arbitration proceedings and asked the arbitral tribunal to declare that Pricer in principle is liable to pay damages due to breach of contract. ProMargin is seeking for a declaratory award and is not claiming for any financial compensation by Pricer in the arbitral proceedings.
Pricer is of the opinion that the claims by ProMargin are without merit and denies all liability.
Defending the right to enter into agreements to test new business concepts and device integrations and the right to terminate them inter alia based on lack of success and altered circumstances, Pricer will defend any claim made by ProMargin for violation of a test agreement made in 2006. ProMargin began its operations in 2006 and is owned and led by the founder of Pricer, Erik Danielsson and his relatives.
Pricer is committed to improving and developing the benefits of its technology for retail customers and partners while protecting its platform openness to any and all solutions that can be integrated.
For further information, please contact:
Charles Jackson, CEO Pricer AB: +46 8 505 582 00
Pricer provides the retail industry’s leading electronic display and Electronic Shelf Label (ESL) platform, solutions, and services for intelligently communicating, managing, and optimizing price and product information on the retail floor. Pricer is the only company today offering a communication platform that supports both segment based ESL and pixel-based ESL. The platform is based on a two-way communication protocol to ensure a complete traceability and effective management of resources. The Pricer system significantly improves consumer benefit and store productivity by simplifying work in the store.
Pricer, founded in 1991 in Uppsala, Sweden, offers the most complete and scalable ESL solution. Pricer has over 4,500 installations in more than 30 countries with approximately 60 percent market share. Customers include many of the world’s top retailers and some of the foremost retail chains in Europe, Japan and the USA. Pricer, in co-operation with qualified partners, offers a totally integrated solution together with supplementary products, applications and services.
Pricer AB (publ.) is quoted on the Nordic Small Cap list of OMX. For further information, please visit www.pricer.com
Pricer AB (publ) Website: www.pricer.com
Bergkällavägen 20-22 Telephone: +46 8 505 582 00
SE-192 79 Sollentuna Corporate Identity number: 556427-7993
Sweden
In its capacity as issuer, Pricer AB is releasing the information in this press release in accordance with the Swedish Securities Exchange Act (2007:528). The information was distributed to the media for publication at 3.00 pm CET on Monday March 9th, 2009.
This information was brought to you by Cision http://www.cisionwire.com
http://www.cisionwire.com/pricer/pricer-ab-implicated-in-arbitration-proceedings
The following files are available for download:
 |