Urals Energy Public Company Limited Litigation Update (0835H)
11 March 2015 - 4:05AM
UK Regulatory
TIDMUEN
RNS Number : 0835H
Urals Energy Public Company Limited
10 March 2015
Press Release 10 March 2015
Urals Energy PCL
("Urals Energy" or the "Company")
Litigation update
Urals Energy PCL (AIM:UEN), the independent exploration and
production company with operations in Russia, announces an update
on its litigation with KNGF.
As announced on 30 January 2015, the Company has won its case
against the appeal made by KNGF in the matter of its outstanding
loan to KNGF, equivalent to approximately US$500,000. Urals had
expected the court in the first instance to issue the order for its
collection. However, Urals Energy understands that KNGF has filed a
second appeal with the cassation court and submitted a motion to
stop enforcement of the debt. Further announcements will be made at
the appropriate time.
- Ends -
For further information, please contact:
Urals Energy Public Company Limited
Andrew Shrager, Chairman Tel: +7 495 795 0300
Leonid Dyachenko, Interim Chief Executive www.uralsenergy.com
Officer
Allenby Capital Limited
Nominated Adviser and Broker
Nick Naylor Tel: +44 (0) 20 3328
5656
Alex Price www.allenbycapital.com
Media enquiries:
Abchurch
Henry Harrison-Topham / Quincy Allan Tel: +44 (0) 20 7398
7710
quincy.allan@abchurch-group.com www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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