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STA Star Phoenix Group Ltd

1.05
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Star Phoenix Group Ltd LSE:STA London Ordinary Share AU0000067084 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.05 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Star Phoenix Group Ltd Arbitration Proceedings Against LandOcean (3582U)

27/03/2023 4:16pm

UK Regulatory


Star Phoenix (LSE:STA)
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From Mar 2022 to Mar 2024

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TIDMSTA

RNS Number : 3582U

Star Phoenix Group Ltd

27 March 2023

27 March 2023

Star Phoenix Group Ltd

("Star Phoenix" or the "Company")

Update on Arbitration Proceedings Against LandOcean

As most recently announced in its annual results announcement of 21 February 2023, Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, is claiming various sums from LandOcean currently estimated in excess of US$8.4 million in the London Court of International Arbitration (LCIA).

The Company is pleased to announce that it has successfully defended a renewed application for security for costs filed by LandOcean, in which LCIA today dismissed the application and the Company is entitled to its reasonable costs with respect to the Renewed Application for Security, which are yet to be submitted to LCIA.

Company will provide a further update to the shareholders upon further material developments. This announcement has been approved by Chairman Lubing Liu on behalf of the Company.

 
 
   Contact Details 
                                   WH Ireland Limited (Nominated 
   Star Phoenix Group Ltd           Adviser and Broker) 
   Robin Luo (Company Secretary)    James Joyce / Enzo Aliaj 
   e. admin@starphoenixgroup.com    t. +44 (0)20 7220 1666 
   t. +61 8 6205 3012 
 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDEASDXAEXDEFA

(END) Dow Jones Newswires

March 27, 2023 11:16 ET (15:16 GMT)

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