Strategic Natural Resources PLC Receipt of Court Order in South Africa (3645D)
27 März 2014 - 2:23PM
UK Regulatory
TIDMSNRP
RNS Number : 3645D
Strategic Natural Resources PLC
27 March 2014
Strategic Natural Resources Plc
("SNR" or the "Company")
Receipt of Court Order in South Africa
The board of SNR, the AIM quoted natural resources developer
operating in South Africa, which owns 74% of Elitheni Coal (Pty)
Limited ("Elitheni"), announces that it has been informed today by
Elitheni that Elitheni yesterday received notice of a court order
made on 25 March 2014, by The High Court of South Africa (Eastern
Cape Local Division, Port Elizabeth). Whilst the SNR directors are
urgently seeking legal advice in order to clarify the position, it
is their preliminary understanding that this order effectively
freezes the Company's entire interest in Elitheni and confirms the
jurisdiction as the Republic of South Africa to any further claims
by the applicant, Thelo Rolling Stock Leasing (Pty) Ltd ("Thelo")
against SNR or Elitheni (the "Court Order").
Elitheni is discussing this Court Order with its South African
legal advisers in order to clarify the consequences of the Court
Order and is in discussions with Thelo regarding the repayments of
amounts due to them. Further announcements will be made in due
course.
Under the terms of the Court Order, SNR has 30 days, from 25
March 2014, in which to enter a Notice of Intention to Oppose.
For further information, please contact:
Strategic Natural Resources plc
Andy Brennan, Chairman +44 (0)20 3328 5656
---------------------
Gabriel Ruhan, CEO
---------------------
Allenby Capital Limited - Nominated Adviser and Broker
---------------------
Nick Naylor/Mark Connelly +44 (0) 20 3328 5656
---------------------
For further information about Strategic Natural Resources plc
please visit www.snrplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCXDLFLZXFFBBV
Strategic Natural (LSE:SNRP)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Strategic Natural (LSE:SNRP)
Historical Stock Chart
Von Sep 2023 bis Sep 2024
Echtzeit-Nachrichten über Strategic Nat. (Londoner Börse): 0 Nachrichtenartikel
Weitere Strategic Natural News-Artikel