SOURCE: Atalaya Mining PLC
March 06, 2017 07:44 ET
NICOSIA, CYPRUS--(Marketwired - Mar 6, 2017) - Atalaya Mining PLC (AIM: ATYM) (TSX: AYM)
Atalaya Mining plc ("Atalaya" or the "Company")
Astor Management AG ("Astor") case ("Astor Case") update
Further to the announcement of the Company on 3 February 2017, the Company announces that judgment was handed down in the Astor Case in the High Court of Justice earlier on today.
In summary, the High Court found that:
As a consequence, the judgment requires that in accordance with the Master Agreement any excess cash (after payment of operating expenses, sustaining capital expenditure, any senior debt service requirements and up to US$10 million (for non-Proyecto Riotinto related expenses)) should be used to pay the Deferred Consideration. The amounts comprising the Deferred Consideration are as fully set out in the Company's announcement of 2 November 2015 when it was first notified of the claim.
To view the full announcement, please click on the following link.
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