Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  White Energy Company Limited    WEC   AU000000WEC5

WHITE ENERGY COMPANY LIMITED (WEC)
My previous session
Most popular
End-of-day quote. End-of-day quote  - 01/21
0.071 AUD   +1.43%
SummaryQuotesChartsNewsCalendarCompanyFinancials 
News SummaryMost relevantAll newsOfficial PublicationsSector news

White Energy : SICC RULES IN FAVOUR OF WHITE ENERGY ON REMITTED ISSUE

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/11/2019 | 06:57am EST

White Energy Company Limited (ASX: WEC; OTCQX:WECFY) ('White Energy' or 'the Company') refers to its previous announcements in relation to the proceedings brought by its subsidiaries, BCBC Singapore Pte Ltd ('BCBCS') and Binderless Coal Briquetting Company Pty Limited ('BCBC') against PT Bayan Resources Tbk ('BR') and Bayan International Pte Ltd in connection with the KSC joint venture.

The Singapore International Commercial Court ('SICC') yesterday released its judgment in relation to the issue of whether BCBCS had the ability to fund KSC by itself. As previously advised to shareholders, the Singapore Court of Appeal ('CA') had dismissed substantially the whole of BR's appeal against the second tranche judgment of the SICC, save only that it had remitted the question of whether BCBCS had the ability to fund KSC by itself to the SICC for determination.

The Company is pleased to announce that the SICC ruled in favour of BCBCS and BCBC and held that BCBCS had the financial ability to fund KSC until the completion of commissioning and testing at the Tabang Plant or until June 2012.

In light of this finding, a third tranche of the proceedings will be held to deal with the outstanding issues in relation to causation and the quantum of damages. A Case Management Conference will be held after 25 January 2019 to provide directions on the conduct of the third tranche. The Company will advise shareholders of the details regarding the conduct of the third tranche as available.

Contact:

Tel: 61 7 3229 9035

Forward Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as 'may,' 'should,' 'plan,' 'intend,' 'potential,' 'continue,' 'believe,' 'expect,' 'predict,' 'anticipate' and 'estimate,' the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the Company. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.

(C) 2019 Electronic News Publishing, source ENP Newswire

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WHITE ENERGY COMPANY LIMIT
01/21WHITE ENERGY COMPANY LIMITED : - KSC legal dispute update
AQ
01/11WHITE ENERGY : Sicc rules in favour of white energy on remitted issue
AQ
2018WHITE ENERGY : Wa supreme court expands terms of existing freezing order against..
AQ
2018WHITE ENERGY : WA Court expands terms of freezing order against Bayan 1878608
PU
2018WHITE ENERGY : Section 708A Certificate 1878250
PU
2018WHITE ENERGY : Appendix 3B 1878246
PU
2018WHITE ENERGY : Results of Meeting 1874152
PU
2018WHITE ENERGY : AGM – Chair and Managing Director Address 1873923
PU
2018WHITE ENERGY : Change of Director's Interest Notice 1873207
PU
2018WHITE ENERGY : Change of Director's Interest Notice 1873202
PU
More news
Chart WHITE ENERGY COMPANY LIMITED
Duration : Period :
White Energy Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Managers
NameTitle
Brian J. Flannery CEO, MD, Director & Head-Investor Relations
Travers William Duncan Chairman
Michael Chapman Chief Operating Officer
Allan McCarthy Chief Financial Officer
Graham Allan Cubbin Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
WHITE ENERGY COMPANY LIMITED1.45%9
CHINA SHENHUA ENERGY COMPANY LIMITED8.85%54 146
GLENCORE1.61%53 560
COAL INDIA-4.88%20 002
SHAANXI COAL INDUSTRY CO LTD9.68%11 732
CHINA COAL ENERGY COMPANY4.09%8 229