Brief: Pacific Radiance settlement for arbitration proceedings

Pacific Radiance

07/09/2016 10:53

Sept 7 (Reuters) - Pacific Radiance Ltd  PACI.SI : 
 
 * Settlement for arbitration proceedings for the rescission of shipbuilding 
   contracts  PACI.SI  
 * Pcpl has entered into settlement agreement with the shipyards in full and 
   final settlement of the matter 
 * Says settlement is not expected to have any material impact on the company's 
   EPS of the company for FY ending 31 December 2016. 
 * Shipyards will, within 60 calendar days of execution of settlement agreement, 
   refund to pcpl in full, pre delivery installments 
 * Pre-delivery instalments paid by pcpl to the shipyards for the psvs' in the 
   amount of US$ 10.6 million 
 
 * Source text for Eikon  ID:nSNZ4gjQVR  
 
  ((Further company coverage:  PACI.SI )) 
  ((Bangalore.newsroom@thomsonreuters.com))