Brief: Astrocast Is Notified Of Hiber's Termination Of Contract

Astrocast SA

24/11/2022 07:40

Nov 24 (Reuters) - Astrocast SA  ASTRO.OL :
    * HIBER HAS NOTIFIED TERMINATION OF CONTRACT
    * AGREEMENT WITH HIBER B.V., WHICH WAS ANNOUNCED ON MAY 30
2022,
IS SUBJECT TO A LONG STOP DATE ON 30 NOVEMBER 2022
    * HIBER IS CLAIMING OBLIGATION FOR ASTROCAST TO GRANT
CONVERTIBLE
LOAN IN AMOUNT OF EUR 1,500,000, ALLEGEDLY DUE PURSUANT TO
AGREEMENT
    * HIBER HAS INFORMED THAT IT IS REFERRING MATTER OF
CONVERTIBLE
LOAN GRANT TO MEDIATION, DISPUTE RESOLUTION IN ARBITRATION UNDER
PROVISIONS OF AGREEMENT
    * DISPUTES THAT THERE IS BASIS FOR CLAIM AGAINST COMPANY AS
MADE
BY HIBER AND WILL ASSESS ALL LEGAL REMEDIES TO SUPPORT ITS
POSITION

Source text for Eikon:  ID:nObiKRw3qa 
Further company coverage:  ASTRO.OL 
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