REG - Star Phoenix Group - Update on LandOcean Arbitration Proceedings

Star PhoenixAnnouncement

27/05/2022 09:45

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RNS Number : 0795N  Star Phoenix Group Ltd  27 May 2022

27 May 2022

Star Phoenix Group Ltd

("Star Phoenix" or the "Company")

 

UPDATE ON ARBITRATION PROCEEDINGS AGAINST LANDOCEAN - STAGE 1 CLAIMS

 

Star Phoenix (AIM: STA), an international company with an oilfield services
business in Trinidad and an oil and gas interest in Indonesia, is pleased
to provide an update on the final hearing of arbitration proceedings
against LandOcean Energy Services Co., Ltd and its affiliates ("LandOcean")
since previous announcements dated 7 September 2021, 14 July 2021 and 6 May
2022 ("Stage 1 Claims").

 

As announced on 6 May 2022, a final hearing in relation to the Stage 1 Claims
was scheduled by the Tribunal to be held on 30 May 2022. LandOcean has however
applied to postpone the final hearing which accordingly will be re-scheduled
to a yet to be determined date.

The Company will provide an update in due course.

This announcement has been approved by Chairman Kerry Gu on behalf of the
Company.

 

 Contact Details

                                  WH Ireland Limited (Nominated Adviser and Broker)

 Star Phoenix Group Ltd           James Joyce / Ben Good

 Lubing Liu (Company Secretary)   t.   +44 (0)20 7220 1666

 e. admin@starphoenixgroup.com

 t.   +61 8 6205 3012

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

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