SNRP Strategic Nat.

TIDMSNRP

RNS Number : 3645D

Strategic Natural Resources PLC

27 March 2014

Strategic Natural Resources Plc

("SNR" or the "Company")

Receipt of Court Order in South Africa

The board of SNR, the AIM quoted natural resources developer operating in South Africa, which owns 74% of Elitheni Coal (Pty) Limited ("Elitheni"), announces that it has been informed today by Elitheni that Elitheni yesterday received notice of a court order made on 25 March 2014, by The High Court of South Africa (Eastern Cape Local Division, Port Elizabeth). Whilst the SNR directors are urgently seeking legal advice in order to clarify the position, it is their preliminary understanding that this order effectively freezes the Company's entire interest in Elitheni and confirms the jurisdiction as the Republic of South Africa to any further claims by the applicant, Thelo Rolling Stock Leasing (Pty) Ltd ("Thelo") against SNR or Elitheni (the "Court Order").

Elitheni is discussing this Court Order with its South African legal advisers in order to clarify the consequences of the Court Order and is in discussions with Thelo regarding the repayments of amounts due to them. Further announcements will be made in due course.

Under the terms of the Court Order, SNR has 30 days, from 25 March 2014, in which to enter a Notice of Intention to Oppose.

For further information, please contact:

 
 Strategic Natural Resources plc 
 Andy Brennan, Chairman                                    +44 (0)20 3328 5656 
                                                          --------------------- 
 Gabriel Ruhan, CEO 
                                                          --------------------- 
 
 Allenby Capital Limited - Nominated Adviser and Broker 
                                                          --------------------- 
 Nick Naylor/Mark Connelly                                 +44 (0) 20 3328 5656 
                                                          --------------------- 
 
 

For further information about Strategic Natural Resources plc please visit www.snrplc.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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