Brief: National United Resources Updates On Order For Southgobi Sands To Pay $11.5 Million To Former Unit

National United Resources Holdings

19/02/2020 15:24

Feb 19 (Reuters) - National United Resources Holdings Ltd
 0254.HK :
    * NATIONAL UNITED RESOURCES HOLDINGS UPDATES ON ORDER FOR
SOUTHGOBI SANDS TO PAY $11.5 MILLION TO FORMER UNIT PURSUANT TO
PARTIAL ARBITRATION AWARD
    * SGS PROPOSED IT WOULD PAY FIRST CONCEPT $2.6 MLN BY 3
INSTALMENTS IN MARCH, APRIL AND MAY 2020
    * FIRST CONCEPT CONSIDERS THAT SUCH PROPOSAL IS UNACCEPTABLE
&
LESS THAN SUM SGS IS OBLIGED TO PAY
    * FIRST CONCEPT TO PROCEED TO REQUEST FUNDS IN SGS'S 
ACCOUNTS BE
WITHDRAWN & USED TO SATISFY DEBT OWED

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 (Reuters.Briefs@thomsonreuters.com)