Ascent Resources PLC Serving of Notice of Dispute (9408T)
24 July 2020 - 4:00PM
UK Regulatory
TIDMAST
RNS Number : 9408T
Ascent Resources PLC
24 July 2020
24 July 2020
Ascent Resources plc
("Ascent" or the "Company")
Serving of Notice of Dispute
Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic
American and European energy and natural resources company,
announces that Ascent Resources Plc and its subsidiary Ascent
Slovenia Ltd (together "the Investors"), have today formally
notified the Government of the Republic of Slovenia (the
"Government of Slovenia") of the existence of disputes under the UK
- Slovenia bilateral investment treaty (the "BIT") and the Energy
Charter Treaty (the "ECT").
In particular, the Government of Slovenia has been notified of
the fact that certain actions which have caused considerable harm
to the Investors' investments in Slovenia constitute breaches by
the Government of Slovenia of the protections established by the
BIT and the ECT, including, inter alia the guarantee that the
investments would be accorded fair and equitable treatment and
Slovenia's guarantee that the management, maintenance, use,
enjoyment or disposal of the investments would not be impaired by
arbitrary, unreasonable or discriminatory measures.
While the Investors continue to sincerely hope that an amicable
solution can be found to the present disputes, they fully reserve
all of their rights and remedies arising out of what they strongly
believe to be Slovenia's treaty breaches and formally consent to
submit their investment dispute with Slovenia to international
arbitration.
A copy of the Notice is available at the Company's website
https://www.ascentresources.co.uk/investors/presentations-documents/
Enquiries:
Ascent Resources plc Via Vigo Communications
Andrew Dennan
WH Ireland, Nominated Adviser & Broker
James Joyce / Chris Savidge 0207 220 1666
SP Angel, Joint Broker
Richard Hail, Caroline Rowe 0203 470 0470
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCPPUAUMUPUGQW
(END) Dow Jones Newswires
July 24, 2020 02:00 ET (06:00 GMT)
Ascent Resources (LSE:AST)
Historical Stock Chart
From Apr 2024 to May 2024
Ascent Resources (LSE:AST)
Historical Stock Chart
From May 2023 to May 2024