Arbitration Update

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 Arricano Real Estate Plc (ARO) 
Arbitration Update 
 
12-Jan-2018 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
12 January 2018 
 
      Arricano Real Estate plc 
 
      ("Arricano" or the "Company") 
 
      Arbitration Update 
 
  Further to the announcement on 6 December 2017, the Company announces that 
     the High Court of Justice in London (the "High Court") has dismissed an 
  application made by Stockman Interhold S.A. ("Stockman") for permission to 
  appeal the High Court's earlier judgement in which it dismissed Stockman's 
       various challenges to the Fourth, Fifth and Seventh Awards (the "LCIA 
          Awards") rendered in the London Court of International Arbitration 
         proceedings between Arricano and Stockman (the "LCIA Arbitration"). 
 
  This High Court judgment is to be treated as the final in the long-lasting 
  dispute between Arricano and Stockman in respect of the exercise of a call 
  option of shares of Assofit Holdings Limited, a company that earlier owned 
      Sky Mall Shopping Center (Kyiv, Ukraine). This ruling brings an end to 
  Stockman's challenge proceedings in respect of the LCIA Awards as Stockman 
 has now exhausted all legal remedies available to it bring such challenges. 
 
Commenting on the High Court's decision, Mykhailo Merkulov, CEO of Arricano, 
  said: "The dispute has been duly considered and resolved by the High Court 
       and it is now up to Stockman to begin the fulfilment of the awards in 
            accordance with the law and its contractual obligations". 
 
     Further announcements relating to this case will be made in due course. 
 
For further information, please contact: 
 
Arricano Real Estate plc                  Tel: [phone] 
 
Mykhailo Merkulov 
Nominated Adviser and Broker 
 
Smith & Williamson Corporate Finance      Tel: [phone] 
Limited                                   4000 
 
Azhic Basirov 
Financial PR 
 
Novella                                   Tel: [phone] 
                                          7008 
 
Tim Robertson/ Toby Andrews 
 
ISIN:           CY0102941610 
Category Code:  MSCU 
TIDM:           ARO 
LEI Code:       213800F8AMPULEKXFX22 
OAM Categories: 2.2. Inside information 
Sequence No.:   5100 
 
End of Announcement EQS News Service 
 
644935 12-Jan-2018 
 
 

(END) Dow Jones Newswires

January 12, 2018 02:02 ET (07:02 GMT)