Update on PRI and TAFTA
Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate” or the “Company”) provides the following update with respect to its claim under its Political Risk Insurance Policy (“PRI Claim”) and its claim against the Kingdom of Thailand under the Australia Thailand Free Trade Agreement (“TAFTA Claim”).
The next Directions Hearing, which was to be held today (1 June 2018), will now take place on 6 July 2018, at which time the Company will endeavour to obtain trial dates.
Kingsgate continues to prosecute its Claim against the Kingdom of Thailand. The Arbitral Proceedings remain subject to Confidentiality Directions from the Tribunal and Kingsgate remains committed to seeking a settlement of the matter with the Thai Government.
Kingsgate Consolidated Limited