INSIDE INFORMATION: Lawsuits filed against SRV Group Plc's subsidiary SRV Construction Ltd relating to fire in Palokka, Jyväskylä, in 2020

SRV GROUP PLC INSIDE INFORMATION 17 JULY 2024 AT 12:30 EEST

INSIDE INFORMATION: Lawsuits filed against SRV Group Plc's subsidiary SRV Construction Ltd relating to fire in Palokka, Jyväskylä, in 2020

Lawsuits have been filed against SRV Construction Ltd, a subsidiary of SRV Group Plc, in the District Court of Central Finland, relating to the fire of the apartment building in Palokka, Jyväskylä, that took place in 2020. The apartment building is built by SRV. The total amount of lawsuits initiated by clients of the project and insurance companies is around 8 million euros.

The company does not agree with the lawsuits. Based on external legal assessments, there are strong grounds for rejecting the lawsuits. SRV has built the apartment building as a turnkey project according to the plans made by the clients of the project, and the reason behind the 2020 fire and its spreading has been the building's inadequate plans.

SRV has currently no information on the schedule for handling the lawsuits.

For further information, please contact:
Miia Eloranta, SVP, Communications and Marketing, tel. +358 (0)50 441 4221, [email protected]

Distribution:
Nasdaq Helsinki

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www.srv.fi

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SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the wellbeing of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2023, our revenue totalled EUR 610 million. In addition to approximately 800 in-house staff, we had a network of around 3,300 partners.

SRV - Building for life