DJ Churchill Mining plc Notice of intention to Appointment Administrator
RNS Number : 5752U
Churchill Mining plc
01 April 2019
1 April 2019
CHURCHILL MINING PLC
("the Company" or "Churchill")
Notice of intention to Appointment Administrator
The Directors of Churchill Mining plc (NEX: CHL) advise that the Company has filed a notice of intention to appoint Phillip Sykes and Matthew Haw both of RSM Restructuring Advisory LLP, 25 Farringdon Street, London EC4A 4AB as administrators of the company.
The notice of appointment follows the ICSID Annulment Committee decision to dismiss the Company's Annulment Application. Churchill had previously filed claims against the Republic of Indonesia at the International Centre for Settlement of Investment Disputes ("ICSID") for damages arising out of the unlawful revocation of the mining licenses that made up the East Kutai Coal Project ("EKCP") by the head of the East Kutai's Regency Government, Mr Isran Noor.
In accordance with statutory requirements, the Board intends to appoint administrators after 5 business days, at which point the Company expects to request the cessation of trading in the Company's shares on the NEX Exchange. A corresponding announcement will be made in due course.
The Company would also like to confirm that given these developments it will not be publishing interim results for the six months ended 31 December 2018 which were due for publication by 31 March 2019.
The Company's shares will remain suspended from trading and further announcements will be made as appropriate.
The Directors of the Company are responsible for the contents of this announcement.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information, please contact:
Churchill Mining plc SP Angel Corporate Finance LLP David Quinlivan NEX Exchange Corporate Adviser Nicholas Smith Stuart Gledhill / Soltan Tagiev --------------------------------- + 61 8 6380 9670 +44 (0)20 3470 0470 ---------------------------------
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(END) Dow Jones Newswires
April 01, 2019 02:01 ET (06:01 GMT)