Star Phoenix Group Ltd Update on LandOcean Arbitration Proceedings (0795N)

TIDMSTA

RNS Number : 0795N

Star Phoenix Group Ltd

27 May 2022

Star Phoenix Group Ltd

("Star Phoenix" or the "Company")

UPDATE ON ARBITRATION PROCEEDINGS AGAINST LANDOCEAN - STAGE 1 CLAIMS

Star Phoenix (AIM: STA), an international company with an oilfield services business in Trinidad and an oil and gas interest in Indonesia, is pleased to provide an update on the final hearing of arbitration proceedings against LandOcean Energy Services Co., Ltd and its affiliates ("LandOcean") since previous announcements dated 7 September 2021, 14 July 2021 and 6 May 2022 ("Stage 1 Claims").

As announced on 6 May 2022, a final hearing in relation to the Stage 1 Claims was scheduled by the Tribunal to be held on 30 May 2022. LandOcean has however applied to postpone the final hearing which accordingly will be re-scheduled to a yet to be determined date.

The Company will provide an update in due course.

This announcement has been approved by Chairman Kerry Gu on behalf of the Company.

 
 
   Contact Details 
                                    WH Ireland Limited (Nominated 
   Star Phoenix Group Ltd            Adviser and Broker) 
   Lubing Liu (Company Secretary)    James Joyce / Ben Good 
   e. admin@starphoenixgroup.com     t. +44 (0)20 7220 1666 
   t. +61 8 6205 3012

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May 27, 2022 04:44 ET (08:44 GMT)

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