KIRI INDUSTRIES LTD. - Valuation Computation Of Patent License Fees - Updates On Court Case In Singapore In Compliance With Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.
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| 08 Feb 2023 | |
| We are pleased to inform you that, the Singapore International Commercial Court ('SICC') has delivered the judgement today relating to the valuation of Company's stake in DyStar. The SICC has decided computation base of 53,550 tonnes annually to be considered for computation of patent licence fees. This decision will substantially increase the amount of patent license fees to be added in valuation of company's stake in DyStar. The SICC has further directed both the parties to submit their revised agreed calculation within 21 days for: 1. The notional licence fee based on 53,550 tonnes for the Related Products; and 2. The valuation of Company's shareholding in Dystar based on the notional license fee, after adjusting for the fact that discount for lack of marketability is not a relevant adjustment as found by the Court of Appeal. Please find attached copy of the SICC judgement dated 8 February 2023. | |
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