TOYA S.A. („Issuer”) was informed about delivery on 21 April 2017 by the District Court in Wrocław, Commercial Division X the claim (about which the Issuer informed in the current report no 10/2017 dated 14 February 2017) dated 13 February by Shareholder Tomasz Koprowski against the Issuer regarding annulment of the resolution (or about its repeal) no 4/2017 of the Extraordinary General Meeting of TOYA SA of 12 January 2017 regarding granting of consent to the conclusion with Jan Szmidt of the agreement to transfer the intellectual property rights as well as an agreement to transfer to Jan Szmidt the right of protection from the trademark registration (“the Agreement”).
In addition, the Wrocław Regional Court, Economic Division X, has called for a response to the lawsuit within 14 days of its delivery.
According to the information reported by the Issuer in the current report no 52/2016 dated 6 December 2016, the Issuer received the request of Shareholder Mr Jan Szmidt to convene the Extraordinary General Meeting of Shareholders together with the call to cease infringements (hereinafter referred to as the Call) involving the use by the Issuer of graphics by Jan Szmidt, part of the YATO, FLO and VOREL trademarks..
On 12 January 2017 the Issuer informed in the current report no 2/2017 about granting of consent by Extraordinary General Meeting of Shareholders of TOYA S.A. to the conclusion with Jan Szmidt of the Agreement. The Issuer, after obtaining the approval from the Supervisory Board, has concluded the Agreement, about which informed in the current report no 11/2017 dated 16 February 2017.
In the opinion of the Issuer, the claim is unfounded. The charges raised by Mr Tomasz Koprowski are not, in principle, justified in the actual and legal circumstances of the case. In view of the above, the Issuer intends to submit a statement of claim in which it will apply to dismiss the claim in its entirety.
It should be emphasized that in the interest of the Issuer there remained a comprehensive regulation of legal issues not yet settled, and creating a clear legal status in this respect, what was addressed by the conclusion of the Agreement being the subject of the contested resolution . According to the best knowledge of the Issuer, the challenged resolution provided the basis for eliminating the risk of further claims and finally settling the issue of the Company’s copyrights. At present, as a result of adoption of the resolution and the conclusion of the Agreement, there is no risk that the graphics used as part of the YATO, VOREL, FLO trademarks used by the Company are held by third parties.
At the same time, however, the Issuer reserves that the final settlement of the dispute in this respect is an objective and independent general court, which will carry out a full assessment of the facts and legal circumstances of the case.
Legal basis: Article 17, paragraph 1 of the Regulation of the European Parliament and of the Council (EU) No 596/2014 of 16 April 2014. on market abuse (the Regulation on market abuse), and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Commission Directive 2003/124 / EC, 2003/125 / EC and 2004/72 / EC (Dz. U. EU. L. 2014. No. 173, p. 1, as amended in connection with § 38 paragraph 1 item 10 of the Ordinance of the Minister of Finance dated 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by laws of a non-member state. (I.e., Dz. U. of 2014. Pos. 133, as amended).
Grzegorz Pinkosz
President of the Management Board