OMHEX Rejects Lawsuit On Further VAT Repayment In Finland

HEX Integrated Markets Ltd and Finnish Central Securities Depository Ltd (APK), subsidiaries of OMHEX AB, have been sued by 22 banks and brokerage firms in Finland. The claim, amounting to about EUR 5 million plus interest, is related to value added tax that the banks and brokerage firms paid to Helsinki Exchanges and APK for trading and clearing services during the years 1995-2000.

OMHEX and HEX Integrated Markets reject the lawsuit and its material grounds as unfounded. The dispute regarding value added tax for the years 1995-2000 was settled in its entirety in 2002 in an arbitration agreement and subsequent arbitration proceedings. Consequently, HEX Integrated Markets denies any liability for further reimbursement.