PV Crystalox Solar PLC Update on arbitration (8357B)
June 21 2016 - 6:54AM
UK Regulatory
TIDMPVCS
RNS Number : 8357B
PV Crystalox Solar PLC
21 June 2016
PV Crystalox Solar PLC
Update on arbitration
In its 2015 Annual Report PV Crystalox Solar plc reported
that
"The Group has a significant outstanding long-term sales
contract with one of the world's leading PV companies which has
failed to purchase wafers in line with its obligations since 2013.
The supply contract was signed in 2008 and related to wafer
shipments over a seven-year period with prices which reflected
market prices at that time and which are considerably above current
levels. Despite extensive negotiations it has not been possible to
reach a mutually acceptable agreement and a request for arbitration
was filed in March 2015 with the International Court of Arbitration
of the International Chamber of Commerce ("ICC")."
The evidentiary hearing of the arbitral tribunal was originally
scheduled to take place in Frankfurt in July 2016. This hearing has
now been postponed until November or December 2016.
PV Crystalox plc expects to release its interim results for the
period ended 30 June 2016 on Thursday 23 August 2016.
Enquiries:
PV Crystalox Solar PLC +44 (0) 1235 437160
Iain Dorrity, Chief Executive Officer
Matthew Wethey, Chief Financial Officer and Group Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAEKFASAKEFF
(END) Dow Jones Newswires
June 21, 2016 06:54 ET (10:54 GMT)
Pv Crystalox Solar (LSE:PVCS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Pv Crystalox Solar (LSE:PVCS)
Historical Stock Chart
From Jul 2023 to Jul 2024