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Result of Arbitration

31st Dec 2014 07:00

RNS Number : 9795A
Asia Resource Minerals PLC
31 December 2014
 



 

 

 

31 December 2014

For Immediate Release

 

Asia Resource Minerals plc ("ARMS" or the "Company")

 

Result of Arbitration

 

ARMS is pleased to announce that the arbitration proceedings against Rosan Roeslani have been successful. The arbitration tribunal in Singapore has issued an award confirming that Mr Roeslani is obliged to make payment under the settlement deed dated 26 June 2013 of the full sum of $173 million, plus accrued interest and legal costs.

 

The details of the award remain confidential.

 

The Company will seek to enforce the arbitration award by all available means against Mr Roeslani, and will update on its progress in this regard as soon as practicable in January 2015.

 

- ENDS-

 

 

For enquiries, please contact:

 

Asia Resource Minerals plc

 

Sean Wade

+44 (0) 20 7201 7511

RLM Finsbury

 

Ed Simpkins / Charles O'Brien

+44 (0) 20 7251 3801

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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