FML Frontier Min

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

MSCBXGDIUDDBGXG

Grafico Azioni Frontier Min (LSE:FML)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Frontier Min (LSE:FML)
Storico
Da Giu 2023 a Giu 2024