LONDON (Alliance News) - Trading Emissions PLC on Friday said it has reached a settlement in respect of all arbitration with subsidiaries of Yunnan Dianneng (Group) Holding Co Ltd.
Trading Emissions said the arbitration related to six claims made by Yunnan challenging amendments made to six emissions reduction purchase agreements.
Under the terms of the settlement, neither Trading Emissions or Yunnan will make any payments and the ERPAs between the companies have been terminated.
Trading Emissions shares were up 10% to 2.74 pence Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Trading Emissions PLC (TRE)
