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Court Dismisses Petition Seeking Leave to Commence a Derivative Action Against Directors of Eastplats
Court Dismisses Petition Seeking Leave to Commence a Derivative Action Against Directors o...
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n\n\n\nCourt Dismisses Petition Seeking Leave to Commence a Derivative Action Against Directors of Eastplats\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 29, 2019\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES./\nTrading Symbol: ELR (TSX); EPS (JSE)\n VANCOUVER, Aug. 29, 2019 /CNW/ - Eastern Platinum Limited (\"Eastplats\" or the \"Company\") announces that it has received the written reasons for judgment of Mr. Justice Smith of the Supreme Court of British Columbia dismissing, with costs, the petition filed by 2538520 Ontario Limited, a shareholder of the Company, seeking  leave to commence a derivative action on behalf of the Company against certain of its current and former directors in relation to the transactions between the Company and Union Goal Offshore Solutions Limited (See News Releases of November 9, 2018 and February 11, 2019). The petitioner has a limited period within which it may appeal the court's decision. \n\"The Company is pleased with the court's ruling and looks forward to furthering its retreatment operations and other opportunities in South Africa\" commented Ms. Diana Hu, the Company's Chief Executive Officer.   \nCautionary Statement Regarding Forward-Looking Information\nThis press release contains \"forward-looking statements\" or \"forward-looking information\" (collectively referred to herein as \"forward-looking statements\") within the meaning of applicable securities legislation.  Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company.  Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words \"will\", \"plan\", \"intends\", \"may\", \"will\", \"could\", \"expects\", \"anticipates\" and similar expressions. Further disclosure of the risks and uncertainties facing t...