17th Jun 2010 14:59
17 June 2010
Rurelec PLC
("Rurelec" or "the Company")
Trading update
Rurelec PLC (AIM: RUR), the developer, owner and operator of power generation capacity in Latin America, announces that it has been invited by the Government of Bolivia to commence formal negotiations in La Paz with the relevant Ministers with regard to compensation for the controlling stake in Empresa Electrica Guaracachi SA ("Guaracachi") which was nationalised on 1st May 2010. Rurelec hopes that these negotiations will result in an agreed compensation that reflects its rights under international law prior to the date when it may commence formal international arbitration proceedings.
No further announcements regarding the status of these negotiations are anticipated until agreement has been reached or arbitration commenced.
For further information contact:
|
Peter Earl Managing Director |
+44 (0)20 7793 5610 |
|
Paul Shackleton/ Tessa Smith Daniel Stewart & Company |
+44 (0)20 7776 6578 |
|
Daniel Briggs Religare Capital Markets |
+44 (0)20 7444 0500 |
|
Richard Swindells/Andrew Craig, Ambrian Partners |
+44 (0)20 7634 4700 |
|
Ana Ribeiro Blythe Weigh Communications |
+44 (0) 20 7138 3206 |
Related Shares:
RUR.L