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IN BRIEF: Star Phoenix's Range Resources Drilling in legal blow

7th May 2021 18:04

Star Phoenix Group Ltd - oilfield services in Trinidad and oil and gas interest in Indonesia - Notes Range Resources Drilling Services Ltd unit involved in historic dispute with former employees. Says High Court in Trinidad rules in favour of employees and Range must pay TTD1.6 million, about GBP170,000, in damages. "RRDSL advised the company that it was not aware of the upcoming High Court hearing and are working together with the company to establish the circumstances of this matter. The company was also advised that there is a separate hearing with the Industrial Court in Trinidad in relation to the Employee scheduled for July 2021," Star Phoenix adds.

Current stock price: 1.55 pence

Year-to-date change: up 4.7%

By Eric Cunha; [email protected]

Copyright 2021 Alliance News Limited. All Rights Reserved.


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