Cloudified Holdings Limited Regulatory News (CHL)

25 February 2014

AIM: CHL

CHURCHILL MINING PLC

("Churchill" or "the Company")

ICSID Arbitral Tribunal Unanimously Rejects Republic of Indonesia Jurisdictional Challenges

Restoration of trading

Further to the announcement of 24 May 2013, the Directors of Churchill (AIM: CHL) advise that the International Centre for Settlement of Investment Disputes ("ICSID") arbitral tribunal, comprising Prof. Gabrielle Kaufmann-Kohler (President), Mr. Michael Hwang S.C (Arbitrator) and Prof. Albert Jan van den Berg (Arbitrator), ("Tribunal") has rejected the Republic of Indonesia's challenges to the Tribunal's jurisdiction.

"We are pleased that the Tribunal has rejected the Republic of Indonesia's jurisdictional challenges and the Tribunal decisions now allow Churchill and Planet to pursue their claims for damages against the Republic of Indonesia under the respective Bilateral Investment Treaties Indonesia entered into with the United Kingdom and Australia" said Churchill's Chairman David Quinlivan.

In summary, the jurisdictional challenges by the Republic of Indonesia claimed:-

(i) the Republic of Indonesia had not consented to ICSID arbitration of the dispute with Churchill and its wholly owned subsidiary Planet Mining Pty Ltd ("Planet") under the UK-Indonesia and Australia-Indonesia Bilateral Investment Treaties,

and/or

(ii) even if the Tribunal found that the Republic of Indonesia had consented to ICSID arbitration as a general matter, the tribunal would still lack jurisdiction because Churchill and Planet's investments fell outside the scope of protected investments under the respective Bilateral Investment Treaties.

In its ruling, the Tribunal dismissed the Republic of Indonesia's challenges and found that the Tribunal has jurisdiction over the claims Churchill and Planet have submitted. Full copies of the Tribunal decisions on jurisdiction will be available on the Company's website www.churchillmining.com.

In its announcement of 10 May 2013, Churchill provided a preliminary estimate of its and Planet's damages as a result of the actions taken by the Republic of Indonesia of not less than USD 1.054 billion, excluding interest. This estimate remains under review and Churchill and Planet will finalise their damages presentation in the course of the arbitration proceedings.

Churchill and its lawyers, Quinn Emanuel Urquhart & Sullivan, LLP will now seek directions from the Tribunal on the schedule for submissions and hearings on Churchill's claims for damages.

The Company will provide further updates on the timing of the proceedings as details become available.

Restoration of trading of the Company's shares on AIM will take effect from 12.00pm today.

END

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