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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Frontier Min | LSE:FML | London | Ordinary Share | KYG368211093 | ORD USD0.01(DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.025 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFML
RNS Number : 1161M
Frontier Mining Ltd
20 August 2013
FRONTIER MINING LTD
("Frontier" or "the Company")
Litigation Update
Frontier Mining (AIM:FML), the AIM listed exploration, development and production Company focused on Kazakhstan, announces an update to the litigation regarding Frontier Mining Ltd, Sokol Holdings Inc., and its owners, Brian Savage and Tom Sinclair ("Plaintiff") by Dorsey & Whitney LLP ("Defendant").
Frontier has been informed that judgment has been obtained from a court in Delaware, USA, ruling that the defendant's motion for summary judgment has been denied and the plaintiff's application for a declaratory judgment has been granted.
The Court has therefore ordered and adjudged that, as set forth in the Opinion, the Court will allow payment of fees incurred by the defendant amounting to US$976,270.56, including pre-judgement interest. This judgment is subject to an appeal which will be lodged by Sokol Holdings Inc.
Whilst the Board of Frontier does not believe the Company should bear any costs of this litigation, as a named party, it is jointly and severally liable for the final sum awarded to the defendant.
For further details please contact:
Frontier Mining +44 (0) 20 7898 Ltd Yerlan Minavar 9019 Libertas Capital +44 (0) 20 3697 (NOMAD) Sandy Jamieson 9495 +44 (0) 20 3440 RFC Ambrian (Broker) John Harrison 6800 Walbrook PR Guy McDougall/Lianne Cawthorne (Media Enquiries) +44 (0) 20 7933 Walbrook IR Paul Cornelius (Investor Enquiries) 8780
This information is provided by RNS
The company news service from the London Stock Exchange
END
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