Filing of Arbitration Claim

RNS Number : 2014X

Rurelec PLC

01 December 2010

 



Rurelec PLC

("Rurelec" or "the Company")

Filing of Arbitration Claim

Rurelec PLC (AIM:RUR), the power plant developer and owner-operator of power generation assets in Latin America, announces that, together with its U.S. subsidiary Guaracachi America Inc ("GAI"), it has now commenced arbitration proceedings to secure fair compensation from the Government of Bolivia following the nationalisation in May 2010 of the interest in Empresa Guaracachi S.A., the largest electricity generation company in Bolivia.  Confirmation of service of the formal arbitration claim has now been received from the offices of President Evo Morales and Elisabeth Arismendi, Minister of Legal Defence of the State.  

A copy of the statement of claim has been posted on the Rurelec PLC website so that shareholders in Rurelec may judge for themselves the strength of their Company's compensation claim for the Guaracachi shares which were expropriated.  The Board of Rurelec does not intend to post any subsequent legal documents onto the website until a settlement is reached.

Company: Peter Earl, Managing Director, Rurelec PLC	[phone]
Nominated Adviser: Paul Shackleton/Emma Earl, Daniel Stewart & Company PLC	[phone]
Brokers:	[phone]
Daniel Briggs, Religare Capital Markets PLC
Brokers:	[phone]
Andrew Craig, Ambrian Partners
Financial PR: Ana Ribeiro/Tim Blythe, Blythe Weigh Communications Ltd	[phone]

 

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