TIE Kinetix N.V. (“TIE Kinetix”) announces today that it has reached an out of court settlement with Samar B.V. (“Samar”). The settlement includes 26 monthly payments of € 10.416 by TIE Kinetix to Samar commencing March 2015, and totaling an amount of € 270.816. With this payment, parties grant each other full and final discharge with regard to all claims.

In TIE Kinetix’ second quarter of 2015 (Jan. – March) one instalment (amounting to € 10.416) will be recorded under operating expenses and a provision will be made for the remaining 25 installments (amounting to € 260.400). The agreed settlement will not have a material impact on TIE Kinetix’ operations or cash flow.

On February 6th, 2014 TIE Kinetix N.V. announced that Samar issued a damage claim to TIE Kinetix amounting to € 883.826,00, referring to the decision of the Court in 2010. TIE Kinetix was of the opinion that Samar’s claim was excessive and unfounded.

Since December 2007, TIE Kinetix has been involved in discussions and subsequently in legal proceedings with Samar. For further information on these proceedings, reference is made to TIE’s previous press releases on the matter and to the summary included in the paragraph "Legal Cases - Samar B.V.” in TIE's 2014 Annual Report, page 57.

Jan Sundelin, CEO of TIE Kinetix: “This out-of-court settlement with Samar is an important step in bringing closure to our past. Closing this chapter enables us to fully focus our resources to our current operations and execution of our strategy”.