Brief: Macmahon Confirms Media Reports That Unit Has Commenced Proceedings In Court

Macmahon Holdings

27/12/2022 22:01

Dec 28 (Reuters) - Macmahon Holdings Ltd  MAH.AX :
    * CONFIRMS MEDIA REPORTS THAT UNIT HAS COMMENCED PROCEEDINGS
IN 
COURT AGAINST COBURN RESOURCES PTY LTD
    * IN PROCEEDINGS, CO CLAIMS RELIEF FROM COBURN IN RELATION
TO
VARIATIONS OF TIME CLAIMS UNDER CONTRACT FOR BULK EARTHWORKS,
AMONG OTHERS
    * UNIT SEEKING DAMAGES AND RETURN OF SECURITY TOTALLING
APPROXIMATELY A$15.8M
    * CO  DOES NOT EXPECT PROCEEDINGS, IN PARTICULAR QUANTUM
CLAIMED,
TO AFFECT FY23 GUIDANCE

Source text for Eikon:  ID:nASX9J49l7 
Further company coverage:  MAH.AX 
 ((Reuters.Briefs@thomsonreuters.com;))