11 Oct 2017 10:44
11 October 2017
Altona Energy plc
("Altona" or "the Company")
Further re Claim by Former Director
Further to the announcement made by Altona on 25 September 2017, the Company reports that it has been successful in its application to the court to set aside the default judgment for £238,680.68 and consequently this is no longer a current liability for Altona. The Company will now proceed with its defence against the claim from the former director who has alleged entitlement to a termination payment under a settlement agreement.
Notwithstanding this positive news, the Company continues to face financing difficulties and, while it is hopeful of securing additional funding in the near term, there can be no assurances that further funds will be forthcoming or on favourable terms for the Company.
Further notifications will be provided in due course.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
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For further information, please visit www.altonaenergy.com or contact:
Altona Energy plc Qinfu Zhang, Executive Chairman
| +44 (0)7555 679 245
|
Leander (Financial PR) Christian Taylor- Wilkinson
| +44 (0)7795 168 157 |
Northland Capital Partners Ltd (Nomad and Broker) Matthew Johnson / Gerry Beaney (Corporate Finance) John Howes (Corporate Broking)
| +44 (0)20 3861 6625 |