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Filing of a lawsuit against a PIK Group subsidiary

12 Mar 2014 15:46

RNS Number : 1657C
PIK Group
12 March 2014
 



 

Filing of a lawsuit against a PIK Group subsidiary

 

Moscow, 12 March 2014 - PIK Group (LSE: PIK) was informed that the Moscow Arbitration Court will hear the lawsuit of Mosstroymekhanizatsiya-5, CJSC (MSM-5) against PIK Group's subsidiary MFS-PIK, LLC related to the recovery of penalties for completion delays at a military community "Kuznetchiki" near the city of Podolsk under a contract dated July 1, 2009. The claims under the lawsuit amount to RUB 2.7 bn.

 

PIK Group views the claims as unjustifiable and maintains that all works by MFS-PIK, LLC were executed in a timely and proper manner. The Group intends to strongly defend its positions in the arbitration hearing.

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Investors

Media

Andrey Machanskis

Public Relations

Head of Investor Relations

Tel: +7 495 505 97 33 ext. 1157 / 1315

Tel: +7 495 505 97 33 ext. 1010 /1014

E-mail: ir@pik.ru

E-mail: pressa@pik.ru

 

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Some of the information in this press release may contain guidance, projections or other forward-looking statements regarding future events or the future financial performance of PIK Group. These statements are only predictions and actual events or results may differ materially. PIK Group does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in PIK Group's projections, guidance or forward-looking statements..

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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