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San Leon To Pay Outstanding Fees To Herbert Smith By End Of Month

Mon, 19th Sep 2016 16:49

LONDON (Alliance News) - San Leon Energy PLC on Monday said it was unaware that the applicable court summons had been issued in relation to the outstanding legal fees due to law firm Herbert Smith Freehills and has agreed to pay the fees by September 30.

Herbert Smith Freehills obtained a judgement against its client San Leon in London's High Court on May 12 for around GBP500,000 in legal fees.

On Monday, San Leon said this amount was included in the amount set aside for repayment of current creditors after a recent placing. San Leon said it was unaware of court summons were issued regarding the payment and, since, has agreed to pay the Herbert Smith Freehills by September 30.

Shares in San Leon closed down 0.8% at 44.62 pence on Monday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland

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