Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAfrican Eagle Resources Share News (AFE)

  • There is currently no data for AFE

Avocet Mining relief at arbitration result

Tue, 29th Dec 2015 08:40
(ShareCast News) - An arbitration hearing has found in favour of Avocet Mining in almost all respects against J&Partners, the company that bought its South East Asian assets in 2011.A verdict has been delivered by the arbitrator that both sides should pay for their own costs and no more.Avocet had been worried about the threat of a potential cost claim from the claimants of up to $4.2m. "The verdict found in favour of Avocet in almost all aspects, however the implications of those areas that remain unresolved," the FTSE Fledgling company said.Avocet investors had been hoping that a favourable arbitration might entitle Avocet to a portion of its $1.8m cost claim.The company said it was taking legal advice to understand what residual risks might remain in this matter and will report back when the matter has become clearer.Shares in Avocet were up 12.2% to 2.01p by 0850 GMT on Tuesday.

Related News

Avocet Mining In Administration After Failing To Secure Investment
21 Aug 2019

Avocet Mining In Administration After Failing To Secure Investment

(Alliance News) - Avocet Mining PLC said on Wednesday that it has been placed in administration with immediate effect.The struggling gold miner on Aug...

Avocet Mining Investors Reject Voluntary Insolvency; Bankruptcy Looms
15 Aug 2019

Avocet Mining Investors Reject Voluntary Insolvency; Bankruptcy Looms

(Alliance News) - Avocet Mining PLC said Thursday shareholders had failed to carry a vote allowing the firm to pursue a voluntary insolvency and wind-...

UK Shareholder Meetings Calendar - Next 7 Days
8 Aug 2019

UK Shareholder Meetings Calendar - Next 7 Days

Friday 9 AugustAdamsAlpha Real TrustMonday 12 AugustNB Global Rate

African Eagle Resources News

Centaur Media shares plunge as it offloads financial services division
1 Apr 2019

Centaur Media shares plunge as it offloads financial services division

(Sharecast News) - Centaur Media shares were in the red on Monday morning, after the business information and specialist consultancy firm announced th...

Sports Direct holds back from Debenhams bid
1 Apr 2019

Sports Direct holds back from Debenhams bid

(Sharecast News) - Rather than emerge with a full takeover bid, Sports Direct has prepared a template letter for other shareholders in Debenhams to us...

Debenhams offers olive branch to Ashley after securing £200m refinancing
29 Mar 2019

Debenhams offers olive branch to Ashley after securing £200m refinancing

(Sharecast News) - Debenhams has secured £200m of cash from its lenders but said it remained open to Sports Direct making a takeover offer or underwri...

Debenhams ploughs on with ?200m refinancing plan
28 Mar 2019

Debenhams ploughs on with ?200m refinancing plan

(Sharecast News) - Debenhams said on Thursday that it had achieved the requisite level of consent from its bondholders to carry out the next stage of ...

Braemar profits slip despite strong showing from shipbroking unit
25 Mar 2019

Braemar profits slip despite strong showing from shipbroking unit

(Sharecast News) - Braemar Shipping warned investors on Monday that annual profits would come in lower year-on-year despite a solid performance from i...

Mike Ashley lashes out at Debenhams after latest tilt rebuffed
25 Mar 2019

Mike Ashley lashes out at Debenhams after latest tilt rebuffed

(Sharecast News) - Sports Direct has criticised Debenhams, after the beleaguered department store refused to sell billionaire Mike Ashley its Danish b...

LMS Capital books loss as NAV stumbles
22 Mar 2019

LMS Capital books loss as NAV stumbles

(Sharecast News) - LMS Capital on Friday reported that it swung to an annual loss after its net asset value declined with the company now pondering it...

Debenhams shocks with ?200m loan plan, Sports Direct has other ideas
22 Mar 2019

Debenhams shocks with ?200m loan plan, Sports Direct has other ideas

(Sharecast News) - Debenhams shares collapsed 64% to 1p on Friday as the department store group announced plans for a new fundraising, bringing a swif...