Legal Claim Update
Legal stay extended on claim by former Cominco shareholders relating to 2018 acquisition.
Select text to share a quote on X · sign in to keep highlights & notes in your KRPZ notes
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, announces the extension of a legal stay on the claim which Kropz and its subsidiary company, Cominco Resources Limited ("Cominco"), are defendants (the "Claim").
Legal Claim Update
On 26 February 2025, Kropz announced that Teh Hong Eng Investments Holding Limited ("THE") and Meridian Investment Group PTE. Limited ("Meridian") had served Particulars of Claim in litigation in the English High Court to which Kropz and its subsidiary company, Cominco, are defendants. The litigation relates to an alleged breach of THE's right of first refusal to acquire Cominco shares at the time of Kropz's offer to Cominco's shareholders in November 2018 which resulted in the acquisition by Kropz of the entire issued and to be issued share capital of Cominco, including the acceptance of the offer by THE and Meridian as shareholders of Cominco.
On 21 May 2025, Kropz announced that a legal stay with THE and Meridian in respect of the litigation had been agreed and would expire in July 2025. The stay has now been extended and will expire on 31 December 2025.
Further updates will be made if necessary in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.