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Analyst Comment

Innofactor's Lumagate trial concluded

By Frans-Mikael RostedtAnalyst
Innofactor

Translation: Original comment published in Finnish on 07/04/2024 at 7:17 am EEST

Innofactor announced that the arbitration tribunal has awarded the case for the benefit of the defendant in the Lumagate acquisition. As a result, Innfoactor will not receive the previously awarded damages of 2.3 MEUR in full. The company’s distribution share shall be around 1.0 MEUR at the maximum.  In addition, Innofactor will bear its own trial costs of approximately EUR 309,000, the opposing party’s costs of approximately EUR 310,000 and the costs for the arbitration, EUR 166,150.  In other words, the total expenses amount to approximately EUR 785,000. We believe that Innofactor will receive at least 5 MSEK (EUR ~441,000) from the bankruptcy estate. In our forecasts, we had previously estimated that the net amount received by Innofactor would be zero. Based on the announcement, it is difficult to estimate how much Innofactor could eventually receive from the bankruptcy estate, but as a whole, the release is not very dramatic relative to our forecasts.

Forum discussions

The interest also arrived. In Nordnet, the interest was paid a day later than the undisputed portion of 1.68 EUR/share.
5/16/2025, 2:59 PM
by Tmpr2000
1
Innofactor’s undisputed share of €1.68 arrived in the account yesterday. The entire process is not yet over; the trusted man demands disclosure...
5/15/2025, 6:11 AM
by Critter
7
Risto Linturi’s Facebook post:(Bolding mine) "A long stint has concluded. Thanks to Sami Ensio for excellent cooperation, which will continue...
5/14/2025, 3:20 AM
by @TeemuHinkula
13
Inderes Innofactor Oyj:n tilinpäätöstiedote 2024 (IFRS) - Inderes Innofactor Oyj:n tilinpäätöstiedote 28.2.2025 klo 9.00 Konsernin tunnusluvut...
2/28/2025, 8:00 AM
by Ummon
4
Was it clear when the redemption matter will be finalized? I also received a letter, but after a quick read-through, I don’t remember.
1/20/2025, 12:54 PM
by salottisipuli
0
In arbitration, the rest will receive at least €1.68 per share, but the arbitral tribunal may order an even higher price, such as €1.86.
1/14/2025, 12:42 PM
by Critter
1
That’s how it is: the shares were sold at the offer price, and the increased offer coming in depended on the price doubling, as Ensio had drawn...
1/14/2025, 12:16 PM
by viljo
1
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