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20 Aug 2013 14:29
FRONTIER MINING LTD
("Frontier" or "the Company")
Litigation Update
Frontier Mining (AIM:FML), the AIM listed exploration, development and production Company focused on Kazakhstan, announces an update to the litigation regarding Frontier Mining Ltd, Sokol Holdings Inc., and its owners, Brian Savage and Tom Sinclair ("Plaintiff") by Dorsey & Whitney LLP ("Defendant").
Frontier has been informed that judgment has been obtained from a court in Delaware, USA, ruling that the defendant's motion for summary judgment has been denied and the plaintiff's application for a declaratory judgment has been granted.
The Court has therefore ordered and adjudged that, as set forth in the Opinion, the Court will allow payment of fees incurred by the defendant amounting to US$976,270.56, including pre-judgement interest. This judgment is subject to an appeal which will be lodged by Sokol Holdings Inc.
Whilst the Board of Frontier does not believe the Company should bear any costs of this litigation, as a named party, it is jointly and severally liable for the final sum awarded to the defendant.
For further details please contact:
Frontier Mining Ltd | Yerlan Minavar | +44 (0) 20 7898 9019 |
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Libertas Capital (NOMAD) | Sandy Jamieson | +44 (0) 20 3697 9495 |
RFC Ambrian (Broker) | John Harrison
| +44 (0) 20 3440 6800 |
Walbrook PR
Walbrook IR | Guy McDougall/Lianne Cawthorne (Media Enquiries) Paul Cornelius (Investor Enquiries) | +44 (0) 20 7933 8780
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