SOURCE: Centamin plc
April 24, 2014 02:27 ET
PERTH, AUSTRALIA--(Marketwired - Apr 24, 2014) - Centamin PLC (LSE: CEY) (TSX: CEE)
For immediate release 24 April 2014
Centamin plc ("Centamin" or "the Company")
(LSE: CEY; TSX: CEE)
Market Update - Concession Agreement Court Case - New Investment Law
Centamin notes that a new law, numbered 32 of 2014, came into effect in Egypt yesterday. The Company understands, based on legal advice, that the new law will restrict the capacity for third parties to challenge any contractual agreement between the Egyptian government and an investor. Furthermore, the new law appears to cover all currently pending lawsuits and challenges.
Centamin continues to discuss with its advisers the process by which the original claim in relation to the Sukari Concession Agreement, which was brought by a third party and is subject to an ongoing court appeal, may be dismissed under the provisions of this new law.
For more information please contact:
This information is provided by RNS
The company news service from the London Stock Exchange
See all RSS Newsfeeds