Contingent liability: Dispute on correct calculation of fee for Qybele LMS

Contingent liability: Dispute on correct calculation of fee for Qybele LMS

13 May 2022 00:23 CEST

Reference is made to the notes on contingent liabilities in Lumi Gruppen AS'
financial statements regarding a legal dispute between Oslo Nye Høyskole AS
(previously Bjørknes Høyskole AS) and a service provider as to the calculation
of fees for the use of the IT system Qybele. The dispute was decided by an
arbitration award rendered on 10 May 2022. Oslo Nye Høyskole AS was acquitted of
all claims from the service provider. The parties were ordered to bear their own
legal costs, and share the arbitral tribunal's fees. The ruling is final and
binding.

Contact information
Martin Prytz,
CFO and Head of Investor Relations
E-mail: [email protected]
Mobile: +47 480 14 078

About Lumi:
Lumi Gruppen is a leading Norwegian education provider founded in 1989. Today,
Lumi Gruppen consists of two main divisions: Sonans and Oslo Nye Høyskole.
Sonans is the market leader in Norway within private candidate exam preparation
courses, and Oslo Nye Høyskole offers high quality bachelor's degrees within
health, social sciences, psychology and business and administration, both on
campus and online.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
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Source

Lumi Gruppen AS

Provider

Oslo Børs Newspoint