RE: Jonah5828 Apr 2015 08:57
Not very exciting. Sorry that the formatting does not c&p correctly.
Further to its announcement on 23 April 2015,
Celamin Holdings NL
(ASX: CNL) (Celamin,
the Co
mpany) announces it has
received
into its
bank account
US$2m
transferred
from the
Tunisian
bank of
Chaketma
Phosphates SA Tunis (“CPSA”)
. CPSA is the company
established
for
the purposes of running the joint venture between Celamin Limited
(
Celamin’s
wholly owned subsidiary
) and
Tunisian Mining Services
(“TMS”)
.
As previously reported, on 13 January 2015 Celamin deposited US$2m
into CPSA’s account in Tunis for the purposes of meeting a cash call on
behalf of Celamin Limited, as requested by the Dire
ctor General of
CPSA.
Celamin has received no communications from TMS or CPSA in relation
to the transferred funds and has retained them in a US dollar account
pending resolution of the legal actions
.
In addition to the US$2M, Celamin has provided US
$
1.7
M in loan
funds to CPSA,
US
$1.4M of which remained in CPSA’s account as at 31
January 2015. Celamin has also announced
it has secured
loan
facilities of AUD$500,0
00 from its major shareholders.
Celamin Limited
is currently
in dispute with
TMS
regarding
o
wnership
and
control of CPSA
,
and has engaged Tunisian legal advisers
and
commenced legal actions
to resolve this situation