Strategic Natural Resources PLC Receipt of winding up petition (3024D)
27 3월 2014 - 4:01PM
UK Regulatory
TIDMSNRP
RNS Number : 3024D
Strategic Natural Resources PLC
27 March 2014
Strategic Natural Resources Plc
("SNR" or the "Company")
Receipt of winding up petition
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 the Company late yesterday
received notice from London Commodity Brokers ("LCB") that LCB's
lawyers have filed a winding up petition on 26 March 2014 with the
Companies Court in London. LCB are claiming an amount of circa
US$1.15 million pursuant to the contractual arrangements put in
places under the Trasteel off-take agreement, announced by the
Company on 4 April 2011 (the "Trasteel Off-Take Agreement").
The Company disputes the amount claimed by LCB and has been in
discussions with LCB concerning the amount due and settlement
terms. The board of SNR is disappointed that a winding up petition
has been filed by LCB but remains optimistic that a settlement with
LCB can be reached.
The winding up petition is due to be heard at the Companies
Court at 10.30 am on 12 May 2014.
In the event that the Company is unable to successfully contest
the winding up petition or reach an agreement with LCB then the
board of SNR will have to take steps to protect the interests of
the Company's creditors.
Further announcements will be made in due course.
For further information, please contact:
Strategic Natural Resources plc
Andy Brennan, Chairman +44 (0)20 3328 5656
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Gabriel Ruhan, CEO
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Allenby Capital Limited - Nominated Adviser and Broker
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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
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