Release: New Hope Corporation: Update on potential sale of NHC Indonesian operation
Wednesday, May 18 2005 - 01:56 AM WIB
Company Announcement
Since New Hope Corporation Limited ( ?New Hope? or the ?Company?) received shareholder approval on 21 April 2005 for the sale of its international coal assets, the Company and its advisors have been working closely with the purchaser to complete the sale
In the last few days, the Indonesian majority co shareholder in the international coal assets has given certain undertaking to the High Court in Singapore in connections with some of some of its interests in those assets. This matter is currently the subject of court proceedings in Singapore. New Hope is taking all steps it can to protect its position and ensure that completion of the sale occurs as soon as possible. Further particulars will be advised as they become available.(end of release)
For further information please contact:
Robert Millner : Chairman,New Hope Corporation Limited (02) 9232 7166
Geoffrey Hill: Managing Director,Pitt Capital Patrner (02) 9210 7000