Arbitration Update
January 12 2018 - 1:02AM
UK Regulatory
Dow Jones received a payment from EQS/DGAP to publish this press
release.
Arricano Real Estate Plc (ARO)
Arbitration Update
12-Jan-2018 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
12 January 2018
Arricano Real Estate plc
("Arricano" or the "Company")
Arbitration Update
Further to the announcement on 6 December 2017, the Company announces that
the High Court of Justice in London (the "High Court") has dismissed an
application made by Stockman Interhold S.A. ("Stockman") for permission to
appeal the High Court's earlier judgement in which it dismissed Stockman's
various challenges to the Fourth, Fifth and Seventh Awards (the "LCIA
Awards") rendered in the London Court of International Arbitration
proceedings between Arricano and Stockman (the "LCIA Arbitration").
This High Court judgment is to be treated as the final in the long-lasting
dispute between Arricano and Stockman in respect of the exercise of a call
option of shares of Assofit Holdings Limited, a company that earlier owned
Sky Mall Shopping Center (Kyiv, Ukraine). This ruling brings an end to
Stockman's challenge proceedings in respect of the LCIA Awards as Stockman
has now exhausted all legal remedies available to it bring such challenges.
Commenting on the High Court's decision, Mykhailo Merkulov, CEO of Arricano,
said: "The dispute has been duly considered and resolved by the High Court
and it is now up to Stockman to begin the fulfilment of the awards in
accordance with the law and its contractual obligations".
Further announcements relating to this case will be made in due course.
For further information, please contact:
Arricano Real Estate plc Tel: +380 44 569 6708
Mykhailo Merkulov
Nominated Adviser and Broker
Smith & Williamson Corporate Finance Tel: +44 (0)20 7131
Limited 4000
Azhic Basirov
Financial PR
Novella Tel: +44 (0)20 3151
7008
Tim Robertson/ Toby Andrews
ISIN: CY0102941610
Category Code: MSCU
TIDM: ARO
LEI Code: 213800F8AMPULEKXFX22
OAM Categories: 2.2. Inside information
Sequence No.: 5100
End of Announcement EQS News Service
644935 12-Jan-2018
(END) Dow Jones Newswires
January 12, 2018 02:02 ET (07:02 GMT)
Arricano Real Estate (LSE:ARO)
Historical Stock Chart
From Apr 2024 to May 2024
Arricano Real Estate (LSE:ARO)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Arricano Real Estate Plc (London Stock Exchange): 0 recent articles
More Arricano Real News Articles