IDEX Biometrics ASA - Update on Arbitration Award
Reference is made to the announcement by IDEX Biometrics ASA ("IDEX") on 28 January 2025 regarding the arbitration decision on 27 January 2025 on the dispute between IDEX and Zwipe AS ('Zwipe'), whereby the arbitrator held in favor of IDEX on all counts. The due date for payments by Zwipe was 14 days from the date of the arbitration decision.
Following such due date, because of Zwipe's financial situation, as communicated by Zwipe on Euronext Oslo Børs, IDEX has engaged in discussions with Zwipe about a payment plan for the arbitration award. However, such discussions effectively ended when Zwipe on 17 February 2025 announced that it will file for bankruptcy with the Oslo District Court.
While Zwipe has paid the arbitration costs, Zwipe has made no payment to IDEX in compliance with the arbitration award.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Marianne Bøe, Head of Investor Relations, on 18 February 2025 at 08:50 CET.For further information contact:Marianne Bøe, Head of Investor Relations, +47 91800186Kristian Flaten, CFO, +47 95092322E-mail:ir@idexbiometrics.comAbout IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.For more information, visit www.idexbiometrics.com
Trademark StatementIDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.Sign in to access your portfolio
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