By the decision of the Harju County Court of 31 March 2023, the lawsuit filed by the bankruptcy trustee of AS Saaremaa Laevakompanii (in bankruptcy) (hereinafter: "SLK") and Väinamere Liinid OÜ (hereinafter: "Väinamere Lines") on 28 March 2019 against the subsidiaries of AS Tallinna Sadam (hereinafter: "Tallinn Sadam") TS Laevad OÜ and OÜ against TS Shipping was dismissed and SLK and Väinamere Liinid bear the costs of the proceedings jointly and severally.
In the statement of claim, SLK and Väinamere Liinid demanded a total of 23.8 million euros for damages caused by the alleged use of business secrets while participating in the public procurement of passenger transport services on Saaremaa and Hiiumaa lines (including SLK in the amount of 15.8 million euros and Väinamere Liinid in the amount of 8 million euros).
The court decision has not entered into force, and SLK and Väinamere Lines can appeal the decision of the Harju County Court within 30 days of receiving the decision.
The management board of Tallinna Sadam, together with the legal advisor, has assessed the dispute in this case as having no perspective, and therefore the group has not formed a reserve to cover a possible claim. Therefore, the rejection of the lawsuit and the end of the case have no impact on the group's financial results.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which serves annually 10 million passengers and 20 million tons of cargo in average. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services.
Additional information:
Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591
m.zirel@ts.ee
