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 against PT Bayan Resources Tbk ('BR') and Bayan International Pte Ltd (collectively, 'Bayan') in connection with the KSC joint venture.
BCBCS has yesterday filed a notice of appeal in the Singapore Court of Appeal in order to appeal certain of the findings made by the Singapore International Commercial Court in tranche 3 of the proceedings. The Company intends to pursue on appeal its claim for damages, with the Court having previously conclusively determined that Bayan had both breached and repudiated the joint venture agreements.
Contact:
Brian Flannery
Tel: 61 7 3229 9035
Forward Looking Statements
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