Ramba Energy: Status update relating to court proceedings in District Court of C. Jakarta
Monday, August 2 2010 - 05:16 AM WIB
All terms used in this Announcement where relevant have been translated from the equivalent terms used in the Indonesian language.
The Board wishes to inform the shareholders that the court proceedings in Indonesia is still on-going.
The Panel of Judges hearing the case involving Soeryadjaya (the ?Case?) concluded the examination of the witnesses on 9 June 2010 and of Mr. Soeryadjaya on 24 June 2010 respectively.
Court hearings for the Case scheduled for 8, 15 and 22 July 2010 were postponed at the request of the Prosecution. During the court proceedings on 29 July 2010, the Prosecution read out the charges and the details of the prosecution?s case to the Panel of Judges.
Several online newspapers in Indonesia continue to report on the proceedings of the Case. The Board and the Company do not in any way confirm the accuracy or veracity of any statements made in such articles, which have not been specifically addressed or clarified in this, or any prior announcement.
The Company will make further necessary announcements in the event that clarification is required in respect of any other such statements.
As stated in our prior announcements, the court proceedings involve Soeryadjaya in his personal capacity and do not involve the Company. Soeryadjaya is independently advised and represented in court by Indonesian counsel. The court proceedings are still on-going. The next court hearing is scheduled for Thursday, 12 August 2010 during which counsel for Soeryadjaya will present his defence to the Charges (as defined in our Announcement of 24 March 2010).
The Board wishes to reiterate that the Company has not suffered and will not suffer any financial loss, whether directly or indirectly, as a consequence of the Charges.
As restated in our announcement of 12 June 2010, Soeryadjaya has vigorously denied all the Charges made against him and has given the Board a sworn statement dated 24 March 2010 to this effect.
The Board will continue to monitor and update shareholders on material developments in the court proceedings in due course and the Company?s lawyers, Messrs KhattarWong, will continue to conduct a watching brief over the court proceedings. (end of edited release)