The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Centamin plc: Egyptian Legal Proceedings Update

Friday, May 10, 2013

Centamin plc: Egyptian Legal Proceedings Update

02:37 EDT Friday, May 10, 2013

PERTH, AUSTRALIA--(Marketwired - May 09, 2013) - Centamin plc (LSE: CEY) (TSX: CEE)

For immediate release 10 May 2013 Centamin plc ("Centamin" or "the Company") (LSE:CEY, TSX:CEE) Egyptian Legal Proceedings UpdateThe Company has been informed that the first hearing in its appealagainst the decision of the Egyptian Administrative Court on 30 October2012, which sought to revoke Centamin's exploitation lease for theSukari Gold Mine, shall be heard on 19 June 2013 before the SupremeAdministrative Court of Egypt ("SAC").Prior to such hearing, the Egyptian State Commissioner's Office hasproduced a report containing non-binding recommendations for SAC.Whilst these recommendations are not positive, the Company does notbelieve that they address the substantive merits of Centamin's appealand as such the Company's grounds of appeal remain unchanged upon theinitial review of the State Commissioners report.The Company continues to prepare for the appeal hearing and shallcontinue to vigorously defend its rights to the Sukari Gold Mine. Therecommendations of the State Commissioner's Office are advisory onlyand importantly Centamin notes that in its ruling on 20 March 2013, inenforcing its decision to suspend the ruling of the AdministrativeCourt, SAC unanimously held that, "on the basis of the copy of theexploitation lease executed by the Minister of Petroleum presented toSAC,the annulment of such lease by the Administrative Court was likelyto be cancelled upon the issuance of a judgment on the merits of thecase."As such pending the final outcome of the court process, Sukaricontinues to operate normally.For more information please contact:Centamin plc BuchananJosef El-Raghy, Chairman Bobby MorseAndy Davidson, Head of Business Development and Cornelia BrowneInvestor Relations(andy.davidson@centamin.co.uk) Gabriella Clinkard+44(0)20 7569 1671 + 44(0)20 7466 5000 This information is provided by RNS The company news service from the London Stock ExchangeEND

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
RNS
Customer
Services
0044-207797-4400
rns@londonstockexchange.com
http://www.rns.com

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections