30 Nov 2018 09:51
PV Crystalox Solar PLC
Receipt of Final Payment under Settlement Agreement relating to Arbitration Award
Further to the announcement of 17 August 2018, PV Crystalox Solar plc (the "Group") announces that it has received the final payment of €14.3m due under the agreement with its customer in settlement of all claims and obligations relating to the wafer supply contract and arbitration award (the "Agreement"). Under the Agreement the customer has now made total payments of €28.8m, including the initial payment of €14.5m received in May 2018, and waived its right to demand delivery of the outstanding wafers.
Enquiries:
PV Crystalox Solar PLC +44 (0) 1235 437160
Iain Dorrity, Chief Executive Officer
Matthew Wethey, Chief Financial Officer and Group Secretary