Brief: Aspen (Group) Says Aspen Glove On Got Adjudication Decision In Relation To Tialoc's Claim

Aspen (Group) Holdings

01/08/2023 16:32

Aug 1 (Reuters) - Aspen (Group) Holdings Ltd  ASPE.SI :
    * ASPEN GLOVE SDN.  ON 28 JULY GOT ADJUDICATION DECISION IN
RELATION TO TIALOC'S CLAIM AGAINST IT
    * AGSB SHALL WITHIN SEVEN DAYS OF RECEIPT OF ADJUDICATION
DECISION
PAY TO TIALOC SUM OF 84.3 MILLION RGT
    * AGSB SHALL WITHIN SEVEN DAYS OF RECEIPT OF ADJUDICATION
DECISION
PAY TO TIALOC FINANCING CHARGES OF 6.3 MILLION RGT
    * ESTIMATED LOSS ARISING FROM ADJUDICATION DECISION WILL BE
10
MILLION RGT FOR FY ENDED 30 JUNE
    * ADVERSE IMPACT IS EXPECTED ON FINANCIAL POSITION OF GROUP
FOR
FINANCIAL YEAR ENDING 30 JUNE 2024
    * AGSB HAD, ON 25 JULY 2023, SUBMITTED A REQUEST FOR
ARBITRATION
    * REQUEST FOR ARBITRATION IN RELATION TO AGSB'S CROSS-CLAIM
AGAINST TIALOC
    * AGSB IS CLAIMING AN AGGREGATE AMOUNT OF 149.3 MILLION RGT 
AGAINST TIALOC

Source text for Eikon:  ID:nSN37Q01p 
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