Clere AG: US arbitration proceedings with sellers of Balda C. Brewer, Inc. concluded

The US arbitration proceedings between the sellers of Balda C. Brewer, Inc. und BIUSA LLC (previous company name: Balda Investments USA LLC), a 100 % subsidiary of the company, have been concluded with an arbitration ruling. In late December 2014, the sellers of Balda C. Brewer, Inc. had asserted damage claims within the scope of an arbi-tration claim, with BIUSA LLC in turn bringing a counter-claim. According to the arbitra-tion ruling, Balda Investments USA LLC is obliged to pay an amount of about EUR 500 thousand (including cost reimbursement for the proceedings) to the plaintiff. This means that the arbitration proceedings have been finally concluded (arbitration claim and counter-claim). The outcome will not impact the company’s operating result because sufficient reserves had been accumulated, beforehand.