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BRIEF-Sigma Healthcare decides to commence legal proceedings against My Chemist/Chemist Warehouse
May 23, 2017 / 11:12 PM / 7 months ago

BRIEF-Sigma Healthcare decides to commence legal proceedings against My Chemist/Chemist Warehouse

May 24 (Reuters) - Sigma Healthcare Ltd:

* Sigma has now decided to commence legal proceedings against My Chemist/Chemist Warehouse Group

* Has been in discussions in relation to operation of certain aspects of current supply agreement with My Chemist/Chemist Warehouse Group

* Offers of mediation and binding arbitration were also proposed but were rejected by MC/CW.

* Remedies to be sought by Sigma include declarations and injunctions for specific performance of agreement

* If MC/CW acts in accordance with their stated intention, impact on Sigma’s EBIT is expected to be approximately $5m - $10m per annum

* “Current year underlying EBIT could be up to 5% below FY2016/17”

* “Ongoing legal costs will also impact earnings” Source text for Eikon: Further company coverage:

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