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DJ Churchill Mining plc ICSID Arbitration - Annulment Proceedings Update

TIDMCHL

RNS Number : 9539K

Churchill Mining plc

16 April 2018

16 April 2018

NEX: CHL

CHURCHILL MINING PLC

("the Company" or "Churchill")

ICSID Arbitration - Annulment Proceedings Update

On 4 August 2017, the Company announced that the ICSID Annulment Committee ("Committee") had advised the parties that the stay on enforcement of the Award of 6 December 2016 in ICSID Case No. ARB/12/14 and ARB/12/40 will continue pending a decision on the Company's Annulment Application, which is due to be heard on 16 and 17 July 2018.

The Company wishes to advise that on Saturday 14 April 2018 the Republic of Indonesia filed an application to terminate the stay on enforcement of the Award granted by the Committee on 4 August 2017 and a request for security for costs.

The Committee has invited the Company to provide its comments on Indonesia's application by 23 April 2018.

The Company and its solicitors are currently reviewing Indonesia's application and the Company will provide its comments to the Committee by 23 April 2018 as requested.

The Company will update the market on this review following the filing of its comments to the Committee.

The Directors of the Company are responsible for the contents of this announcement.

ENDS

For further information, please contact:

 
 Churchill Mining plc   Northland Capital Partners Limited 
 David Quinlivan        NEX Exchange Corporate Adviser 
  Nicholas Smith         Edward Hutton/Dugald Carlean 
                         Broking 
                         John Howes 
 
 + 61 8 6380 9670       +44 (0)20 3861 6625 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 16, 2018 02:25 ET (06:25 GMT)