Berkeley Energia Ltd - clean energy company focused on bringing wholly owned Salamanca project in Spain into production - Claims brought against the company by Singapore Mining Acquisition Co Pte Ltd - which is part of the Oman Investment Authority - have been settled, with both parties agreeing to discontinue legal proceedings.
The claim were related to the investment agreement and convertible note between both companies.
Settlement has been achieved through the sale of 186.8 million shares issued to OIA in November at a price of AUD0.35 each, with proceeds being paid to OIA.
Looking ahead, Berkeley will continue to push for approval of its Salamanca uranium project in Spain.
Current stock price: 30.60 pence
12-month change: down 5.9%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Berkeley Eng (BKY)