11/05/2015 Celamin Holdings Receives Results of Initial Court Action

ASX Announcement
11 May 2015
Celamin Holdings Receives
Results of Initial Court Action
ACN 139 255 771
ABN 82 139 255 771
Level 4, 100 Albert Road
South Melbourne VIC 3205
Contact:
Phone: +61 (0)3 9692 7222
Fax: +61 (0)3 9077 9233
[email protected]
Investor Relations:
Stephen Nossal
Board of Directors:
Martin Broome, Chairman
Nic Clift, Managing Director
Russell Luxford, Non-Exec Director
Sue-Ann Higgins, Alternate Director
Tim Markwell, Non-Exec Director
Company Secretary:
Melanie Leydin
Securities on Issue:
CNL: 993,171,986 ordinary shares
CNLCA: 14,887,796 partly paid shares
Celamin Holdings NL (ASX: CNL) (Celamin, the Company) announces it
has received the results of one of the initial court actions it has
brought regarding the dispute with its joint venture partner, Tunisian
Mining Services (TMS). Celamin is in dispute with TMS over ownership
and control of the joint venture company Chaketma Phosphates SA
(CPSA), and has engaged Tunisian legal advisers and commenced legal
actions to resolve this situation.
As previously reported, Celamin has commenced three initial legal
actions in the Tunisian courts:
- An Application for reversal of a purported share transfer against
the Director General of CPSA, TMS, and Kais Mansouri of TMS;
- An application for appointment of a trustee under supervision of
the court to manage the business of CPSA and preserve the rights
of all parties until a final decision is made regarding the share
transfer; and
- An application for recovery of AUD$160,000 owed by TMS to
Celamin Limited, which is unrelated to the share transfer.
Celamin has been informed that the application for an appointment of
a trustee to manage CPSA was not granted. The reasons for the
judgement have not yet been released, and are expected to become
available within the next 2 weeks. Once received, Celamin, in
conjunction with its legal team, will determine appropriate next steps.
Celamin notes that the application for the appointment of a trustee is
separate from the application for reversal of the share transfer and
there has been no consideration of the merits of the latter application.
The two remaining court actions continue and Celamin is in the
process of determining further actions to be launched in the near
future.
ENDS
For further information or enquiries, please contact:
Nic Clift
Managing Director
Celamin Holdings NL.
T: +61 (0)3 9692 7222
E: [email protected]
Stephen Nossal
Corporate Relations
Celamin Holdings NL
T: +61 (0)3 9692 7222
E: [email protected]