Strategic Natural Resources PLC Receipt of Liquidation Notice by Elitheni (3483U)
29 Noviembre 2013 - 10:24AM
UK Regulatory
TIDMSNRP
RNS Number : 3483U
Strategic Natural Resources PLC
29 November 2013
Strategic Natural Resources Plc
("SNR" or the "Company")
Receipt of liquidation notice by Elitheni
SNR, the AIM listed natural resources developer operating in
South Africa, owns 74% of Elitheni Coal (Pty) Limited ("Elitheni")
which owns the Elitheni coal mine located in the Eastern Cape of
South Africa.
The board of SNR has been informed by Elitheni that Elitheni has
received a liquidation notice in South Africa from a group of
creditors. This notice (which has been issued under South African
law) is due to be heard on 10 December 2013. The board of Elitheni
has told SNR that it considers the amounts being claimed pursuant
to the notice significantly exceeds legitimate claims from the
relevant creditors.
SNR understands that the board of Elitheni intends to settle the
legitimate element of this claim shortly and is considering the
appropriate action to take in respect of the remainder.
The Company will make a further update on this matter and
Elitheni's fundraising efforts early next week.
For further information, please contact:
Strategic Natural Resources plc
Andy Brennan, Chairman
Gabriel Ruhan, CEO +44 (0)20 3328 5656
Allenby Capital Limited - Nominated Adviser
and Broker
Nick Naylor/Mark Connelly/James Reeve +44 (0) 20 3328 5656
FTI Consulting
Ben Brewerton/Georgia Mann +44 (0) 20 7831 3113
For further information about Strategic Natural Resources plc
please visit www.snrplc.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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