Market Update

RNS Number : 4037F

Centamin PLC

24 April 2014

 



For immediate release

24 April 2014

Centamin plc ("Centamin" or "the Company")

(LSE:CEY, TSX:CEE)

Market Update - Concession Agreement Court Case - New Investment Law

Centamin notes that a new law, numbered 32 of 2014, came into effect in Egypt yesterday.  The Company understands, based on legal advice, that the new law will restrict the capacity for third parties to challenge any contractual agreement between the Egyptian government and an investor. Furthermore, the new law appears to cover all currently pending lawsuits and challenges.

Centamin continues to discuss with its advisers the process by which the original claim in relation to the Sukari Concession Agreement, which was brought by a third party and is subject to an ongoing court appeal, may be dismissed under the provisions of this new law.

For more information please contact:

Centamin plc Josef El-Raghy, Chairman Andy Davidson, Head of Business Development and Investor Relations ([e-mail]) [phone]

Buchanan Bobby Morse Gordon Poole Gabriella Clinkard + 44 (0) 20 7466 5000

 

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