Press and News - 06.11.2007

Press Release, November 6, 2007

FOR RELEASE IN SWITZERLAND - THIS IS A RESTRICTED COMMUNICATION AND YOU MUST NOT FORWARD IT OR ITS CONTENTS TO ANY PERSON PROHIBITED BY THE LEGENDS CONTAINED HEREIN.
NOT FOR DISTRIBUTION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

Thalwil, Switzerland -- November 6, 2007 -- u-blox Holding AG has been informed on November 5, 2007 that a claim has been filed by CEVA Technologies Ltd., a license partner of u-blox for the Antaris products, at the Zurich commercial court. The claim requests the compensation of damages for alleged breaches of the licensing agreement, and, in order to specify the amount to be claimed at a later stage, seeks in particular for extensive information.

u-blox has described this issue and the related risks in its recent Offering and Listing Circular and has formed accruals in its consolidated interim financial statements published therein, which management believes are still adequate. As in the past, u-blox continues to reject the claim.

Contact details

Thomas Seiler, Chief Executive Officer
phone: +41 (44) 722 74 44

Jean Pierre Wyss, Chief Financial Officer
phone: +41 (44) 722 74 44

About u-blox Holding AG

u-blox develops leading positioning technology, products and services based on Global Navigation Satellite Systems (GNSS), including GPS and GALILEO, for the automotive and mobile terminal communications markets as well as for high precision infrastructure applications.

u-blox was founded in 1997 by a former research team from the Swiss Federal Institute of Technology (ETH). Since its incorporation, u-blox has evolved from a small engineering company to a global provider of integrated positioning solutions. The company’s main operations are based in Thalwil in the Canton of Zurich in Switzerland, where its research and development, European sales and administrative functions are located. Furthermore, u-blox has subsidiaries dedicated to sales and customer services in the USA, Singapore and Hong Kong and additional representative offices in China, Taiwan, Korea and Japan.

In fiscal year 2006, u-blox generated sales of CHF 54.4 million and a net profit of CHF 7.4 million. For the six months ended June 30, 2007 the company recorded sales of CHF 39.4 million, representing a growth rate of 69% compared to the same period last year. As of June 30, 2007 u-blox had 69 employees, of which 48 are located in Switzerland.

Not for distribution in the United States, Australia, Canada or Japan.

This document does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in the United States or in any other jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make an offer or solicitation. The securities of u-blox Holding AG have not been and will not be registered under the United States securities laws and may not be offered or sold in the United States [or to or for the account or the benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended)] absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither u-blox Holding AG nor its shareholders intend to register any portion of the offering in the United States or conduct a public offering of securities in the United States.

United Kingdom

This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professional falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "Relevant Persons"). The Securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

EEA Member States

In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any EEA Member State, the "Prospectus Directive") this communication is only addressed to and is only directed at qualified investors in that EEA Member State within the meaning of the Prospectus Directive.

Forward-looking statements

This document contains specific forward-looking statements, e.g., statements including terms like "believe", "assume", "expect" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not rely on forward-looking statements. The company assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.

Further Information

Press Releases 2007

Press Release (PDF Format)

Newer Entry

Older Entry

/news/public4.html
last modified: 06.11.2007

Important legal information - please read the disclaimer before proceeding.

© u-blox ag, 1997-2008