PHOSCO LTD ACN 139 255 771
ABN 82 139 255 771
Level 4, 100 Albert Road South Melbourne VIC 3205
Contact:Phone: +61 (0)3 9692 7222
Fax: +61 (0)3 9077 9233
info@celamin.com Investor Relations: Stephen Nossal
Board of Directors:Martin Broome, Chairman Nic Clift, Managing Director
Sue-Ann Higgins, Non-Exec Director Tim Markwell, Non-Exec Director
Company Secretary:Melanie Leydin
Securities on Issue:CNL: 993,171,986 ordinary shares CNLCA: 14,887,796 partly paid shares
Celamin Holdings NL (ASX: CNL) (Celamin, the Company) provides the following update to the market on the dispute between its wholly owned subsidiary Celamin Limited and its joint venture partner Tunisian Mining Services ('TMS') in relation to the fraudulent transfer to TMS of Celamin's 51% interest in the joint venture company Chaketma Phosphates SA ('CPSA').
As previously reported, Celamin is pursuing an alternate dispute resolution process, according to its contractual rights. Attempts to conduct settlement negotiations with TMS and CPSA have not been successful and Celamin has submitted a request for international arbitration of the dispute in order to seek preservation and recognition of Celamin's rights, including restitution of its shares in CPSA and compensation for damages suffered.
Celamin is also continuing with various other legal actions in Tunisia including the criminal proceedings and the debt recovery action previously announced.
ENDS
Managing Director Corporate Relations
Celamin Holdings NL. Celamin Holdings NL
T: +61 (0)3 9692 7222 T: +61 (0)3 9692 7222
E: nic.clift@celamin.com E: stephen.nossal@celamin.com
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