15 Feb 2016 09:20
15 February 2016
United Cacao Limited SEZC
("United Cacao" or the "Company")
Litigation & Settlement Results in Favour of the Company
United Cacao Limited SEZC (AIM: CHOC), the AIM-quoted cacao plantation company based in Peru, is pleased to announce a settlement and litigation in the Company's favour.
On 12 January 2016, the Federal Supreme Court of Peru re-affirmed the Loreto Superior Court of Appeals' ruling on 26 March 2015 (previously detailed via RNS on 29 September 2015), which itself originally confirmed the Company's freehold properties' environmental permitting and agricultural zoning since 1997.
In addition, following legal proceedings between the Company and Rettet den Regenwald e.V. which were initiated by the Company on 20 January 2014, a settlement has now been registered at the District Court of Hamburg in Germany under which Rettet den Regenwald e.V. shall: (i) pay to the Company monetary compensation; and (ii) immediately publish clarification statements on its websites and Twitter for defamatory comments previously published and since removed. These clarification statements are now available online for three months and can be found at the following links:
§ https://www.rainforest-rescue.org/news/7058/clarification?t=361;
§ https://www.regenwald.org/news/7060/klarstellung; and,
§ https://www.salvalaselva.org/noticias/7059/aclaracion.
The Company intends to donate the monetary damages from Rettet den Regenwald e.V. towards social programmes targeting youth education and women's health initiatives in its operating area.
For further information on the Company, please visit www.unitedcacao.com or contact:
United Cacao Limited SEZC | +1 345 815 2710 |
Dennis Melka, Executive Chairman & CEO | |
Anthony Kozuch, Executive Director | |
Strand Hanson (Financial & Nominated Adviser) | +44 (0) 20 7409 3494 |
James Harris / James Spinney / Ritchie Balmer | |
VSA Capital (Joint Broker) | +44 (0) 20 3617 5177 |
Andrew Raca | |
Kallpa Securities SAB (Joint Broker) | +51 1 630 7500 |
Ricardo Carrion | |
Tavistock (PR Adviser) | +44 (0) 20 7920 3150 |
Ed Portman / Simon Hudson / Jos Simson |
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