27th Mar 2009 07:16
27 March 2009
D1 Oils plc
Statement re Arbitration Award
The Board of D1 Oils plc (the "Company") is pleased to report that in relation to a dispute with a US company, the Company is in receipt of a final and binding arbitral award valued at £4.2m. Notification of the award was received by the Company after the market closed on 26 March 2009. Steps will now be initiated to effect the recovery of the amount due.
Enquiries:
D1 Oils plc
Graham Prince,
Director, Corporate Communications 07973-323840
Brunswick
Camilla Gore 020 7404 5959
Notes to Editors:
D1 Oils plc is a biofuels technology company. Our strategy is to develop new energy crops into sustainable commercial fuels. We provide technology and services for the breeding, development, planting and harvesting of new varieties of commercial biofuel crops, focusing on alternative, sustainable feedstocks that are not subject to the same price pressures as food-grade crops. We have an established plant science and planting programme for Jatropha curcas, a robust, tropical oilseed bearing tree. Jatropha produces inedible oil feedstock for biodiesel and is able to make use of land not suitable for arable agriculture. D1 has a 50:50 joint venture with BP for the global planting of Jatropha.
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