CONTINGENT LIABILITY IN RELATION WITH AN ARBITRATION RULING TO GRANT PUMA ALL TRADEMARK RIGHTS IN SPAIN
Sportlifestyle Company PUMA herewith declares that the former Spanish license holder Estudio 2000 S.A., which owned several PUMA trademark rights, has been obliged to vest these to PUMA according to the arbitration ruling.
Sportlifestyle Company PUMA herewith declares that the former Spanish license holder Estudio 2000 S.A., which owned several PUMA trademark rights, has been obliged to vest these to PUMA according to the arbitration ruling. Through the vesting of all of the word, image and combined PUMA trademark rights in Spain, PUMA would ultimately own all trademark rights and take over the operational business in Spain, hence ensuring a consistent brand management strategy.
According to the arbitration ruling, the vesting of the trademark rights is subject to a one-time payment of up to 98 million Euros to Estudio 2000 S.A.. However, after a thorough legal assessment, PUMA will challenge the ruling and management believes that a favourable outcome is more likely than not. Pursuant to § 15 WpHG PUMA informs herewith the financial markets of this contingent liability.
This ad hoc release does not constitute an offer to sell nor is it a solicitation to buy any securities.
Originally published by Puma.
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