Last checked at 31 Jan 2017 08:23
31 January 2017
AIM: CHL
CHURCHILL MINING PLC
("the Company")
UPDATE
Further to the announcement of 23 December 2016, the Directors of Churchill Mining plc (AIM:CHL) advise that they are continuing to work with the Company's solicitors Clifford Chance LLP on a detailed analysis of the Award and a review of potential grounds to seek revision and / or annulment of the Award pursuant to Section 5 of the ICSID Convention.
The Company expects to be in a position to finalize its advice to shareholders by 28 February 2017.
The suspension in trading of the Company's shares on AIM will continue to remain in place pending clarification of the Company's financial position which can only be assessed in light of the Directors' decision on the filing of a revision and / or annulment application and the subsequent position on the USD 9.4m costs order.
ENDS
For further information, please contact:
Churchill Mining plc Northland Capital Partners Limited
David Quinlivan Nominated adviser
Nicholas Smith Edward Hutton/William Vandyk
Russell Hardwick Gerry Beaney
Broking
+ 61 8 6380 9670 John Howes
+44 (0)20 3861 6625