Further re Termination of Chinese Distribution ...

15 February  2016

Windar Photonics plc
(the “Company”, “Windar Photonics” or the “Group”)

Further re. Termination of Chinese distribution agreement

Further to the announcement on 22 January 2016 in which the Company advised that it had given six months’ notice to terminate the exclusive distribution agreement, which is subject Danish law, with LSAP Holdings AG (known as “TRES Wind”), because the necessary sales level target for 2015 set out in such agreement had not been achieved.  

The Company notes that TRES Wind has responded by claiming that there is a case of unjustified termination, conducted in a manner that is not in accordance with the terms of the agreement and that it would be reserving its rights under the agreement.

The Company has received Danish legal advice that the challenge by TRES Wind is unsubstantiated and has rejected the claim.

For further information:

Windar Photonics plc	Martin Rambusch, CEO	[phone]
Sanlam Securities UK Limited (Nomad and Broker)	David Worlidge	[phone]

http://investor.windarphotonics.com