Varroc Engineering has disclosed a material update regarding the ongoing arbitration initiated by OPmobility Lighting Holding. The original claim amount of USD 66.4 million has been substantially reduced in the Statement of Claims received on February 10, 2026. The new quantum stands at USD 25.38 million and EUR 76,514.37 plus legal costs. The Company confirms it is evaluating the matter and intends to vigorously contest the claims.
Update on OPmobility Arbitration Proceedings
Varroc Engineering Limited has provided an update concerning the arbitration request filed against it and its subsidiary, VarrocCorp Holding B.V., by OPmobility Lighting Holding (formerly PO Lighting Systems). This dispute relates to alleged breaches of covenants under a Securities Purpose Agreement established on April 29, 2022.
Reduction in Claim Quantum
The company had previously informed exchanges on July 08, 2025, that the initial claim amount submitted by OP Mobility stood at USD 66,405,802 plus associated legal costs.
However, the firm has now received the official Statement of Claims on February 10, 2026. This filing significantly revises the requested compensation downwards. The new quantum of claims is now stated as USD 25,380,960 and EUR 76,514.37, in addition to legal costs.
Company Response and Next Steps
In response to the revised claims, Varroc Engineering is currently evaluating the matter. The management has stated its clear intention to contest the claims and will take all necessary actions, including lodging counterclaims, to protect the interests of the listed entity.
The disclosure confirms that this matter does not involve litigation against Key Management Personnel or Promoters, nor has any settlement been reached regarding these proceedings.
Source: BSE
