Brief: Rockhopper Exploration Wins ICSID Arbitration With Italy For 190 Mln Euro Compensation Excluding Interest
24/08/2022 12:07
Aug 24 (Reuters) - Rockhopper Exploration PLC RKH.L :
* ROCKHOPPER EXPLORATION PLC - UPDATES ON ITS ICSID
ARBITRATION
WITH REPUBLIC OF ITALY
* ROCKHOPPER - ARBITRATION AWARD COMPENSATION OF EUR
190MM, PLUS
INTEREST AT EURIBOR + 4%, COMPOUNDED ANNUALLY FROM 29 JAN 2016
UNTIL PAYMENT
* ROCKHOPPER - ARBITRATION PANEL UNANIMOUSLY HELD ITALY HAD
BREACHED ITS OBLIGATIONS UNDER ENERGY CHARTER TREATY ENTITLING
ROCKHOPPER TO COMPENSATION
* ROCKHOPPER EXPLORATION PLC - ITALY HAS 120 DAYS TO APPLY
FOR AN
ANNULMENT OF AWARD, WHICH CAN ONLY BE ANNULLED IN LIMITED
CIRCUMSTANCES.
* ROCKHOPPER EXPLORATION PLC - UNDER A LEGAL AGREEMENT WITH
FALKLAND ISLAND GOVERNMENT ROCKHOPPER IS PREVENTED FROM MAKING
ANY FORM OF DISTRIBUTION.
Source text for Eikon: ID:nRSX1023Xa
Further company coverage: RKH.L
((Reuters.Briefs@thomsonreuters.com;))