The Lille commercial court ruled against METabolic EXplorer
No provisional enforcement of this decision by the commercial court
METabolic EXplorer intends to appeal this decision
Clermont-Ferrand, 9 March 2017 – METabolic EXplorer (METEX), a biological chemistry company specialising in the development of industrial fermentation processes for the production of chemical compounds used in the manufacture of everyday products, including animal nutrition and health additives, biopolymers such as plastics, textile fibres and resins, and others, reports about the dispute related to the discontinuation of its project in Malaysia in 2014.
In the dispute between METabolic EXplorer and the company Lebas Technologies, owner of the engineering company to which the company Bio-XCell, responsible for METabolic EXplorer's project in Malaysia until it was discontinued in 2014, had entrusted – then terminated – an assignment (see note 15 to the annual financial statements on page 38 of the 2016 half-year report). METabolic EXplorer has just been informed that it has been ordered by the Lille commercial court to pay the following damages: (i) a total of €500,000 to Lebas Technologies for compromising its image and for its intent to harm the company and (ii) €2,063,000 to Bio-XCell for METabolic EXplorer's role in the termination of the contract which linked the subsidiary of Lebas Technologies to Bio-XCell.
METabolic EXplorer believes that it has substantial legal arguments to present, and intends to appeal the decision taken against it. It is unlikely that the Court of appeal will make a decision for at least 18 months.
There is no provisional enforcement of this decision by the commercial court (no obligation to pay the sums at this stage).
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About METabolic EXplorer – www.metabolic-explorer.com
A pioneer in industrial biochemistry with some 20 years of experience, METabolic Explorer (METEX) develops alternative solutions to the petrochemical processes used in manufacturing.
Using renewable and sustainable raw materials, it develops innovative industrial fermentation processes to produce chemical compounds used in basic products of everyday life such as animal nutrition and health additives, plastics, textiles, cosmetics, and resins, among many others.
The company's ambition with its biotechnological innovations is to produce consumer goods in a different way, without oil, in order to meet environmental challenges and consumers' new societal expectations.
To create these innovative processes, METabolic EXplorer relies on a 70-person staff possessing the complementary competencies essential at every step of their development, from the optimisation of strains in the laboratory to the pilot-scale production of samples.
Based at the Clermont Limagne technology park, on the outskirts of Clermont-Ferrand, METabolic Explorer is listed on Euronext in Paris (Compartment C, METEX) and is included in the CAC Small Index.
Get free financial information on METabolic EXplorer by registering with:
www.metabolic-explorer.com or www.actus-finance.com
Media and individual shareholder relations
Eric de Lambert
Tél.: +33 (0)6 25 29 06 58
Investor and analyst relations
ACTUS Finance et Communication
Tel: +33 (0)1 53 67 36 78
This communication includes forward-looking information which is subject to risks and uncertainties. The potential development of the company could be substantially different from that anticipated in this press release because of the various risk factors which are described in the company's Listing Prospectus.