LONDON (Alliance News) - Shares in PV Crystalox Solar PLC fell on Tuesday after it said that an evidentiary hearing on a legal case surrounding a long-term sales contract due to be held in July has been postponed until November or December.
Shares in the company were down 16% at 11.08 pence Tuesday morning.
The arbitration relates to a long-term sales contract with an undisclosed solar energy company that failed to buy wafers in line with its obligations since 2013.
Although the companies engaged in "extensive negotiations", they were not able to reach a "mutually acceptable agreement", and a request for arbitration was filed with the International Court of Arbitration of the International Chamber of Commerce in March.
PV Crystalox said it plans to release its interim results August 23.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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