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2016-11-17

Scandic Hotels Group AB: Scandic receives damages in dispute with Folkets Hus & Park in Sundsvall

On October 28, the district court in Sundsvall announced its judgment
regarding damages in the dispute that arose between Scandic and
Folkets Hus in Sundsvall in 2012.

The parties have reached an agreement in which neither party will
appeal the judgment. Folkets Hus in Sundsvall is obliged to pay
damages to Scandic totaling SEK 59,504,687 plus interest on the sum
from September 30 2015.

The total amount of the damages including interest amounts to SEK
64,791,887, which will impact Scandic's results in full for the
fourth quarter 2016.

In addition to the above-mentioned amount, Scandic has already
received approximately MSEK 8.9 in compensation from Folkets Hus in
Sundsvall. This amount had an impact on the results for the fourth
quarter 2015.

For more information, please contact:
Peter Jangbratt, Head of Sweden
Email: peter.jangbratt@scandichotels.com
Ann-Charlotte Johansson, VP Communications & IR
Email: ann-charlotte.johansson@scandichotels.com
Phone: +46 (0)72 180 22 44
www.scandichotelsgroup.com
Scandic Hotels Group AB is required to publish this information in
accordance with the EU Market Abuse Regulation. The information was
submitted for publication by the contact persons mentioned above on
November 17, 2016 at 13:00 CET.

About Scandic
Scandic is the largest hotel company in the Nordic region with 14,400
team members and a network of close to 230 hotels with about 44,000
hotel rooms in operation and under development. Scandic Friends is
the biggest loyalty program in the Nordic hotel sector with 1.8
million members. Corporate responsibility has always been a part of
Scandic's DNA and Scandic has been named Best Hotel Brand in the
Nordic countries (BDRC). Since December 2, 2015, Scandic has been
listed on Nasdaq Stockholm. www.scandichotelsgroup.com

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http://news.cision.com/scandic-hotels-group-ab/r/scandic-receives-damage...
http://mb.cision.com/Main/13379/2125133/591356.pdf

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