Disclosure Details:
| Object of Court Decision | Change of control of Colben Energy (Cambodia) PPSEZ Limited (CEZ) |
| 2 - Date of Lawsuit | 2023-03-22 |
| 3 - Competent Court | Phnom Penh Court of First Instance |
| 4 - Plaintiff | Royal Group Phnom Penh SEZ Plc. (PPSP) (To be officially amended) |
| 5 - Defendant | Colben Energy Holdings (PPSEZ) Limited (CEHZ) |
| 6 - Impact | Control of the company passes to PPSP |
| 7 - Description |
Royal Group Phnom Penh SEZ Plc. (PPSP) (To be officially amended) would like to inform that: on March 22, 2023, the Phnom Penh Court of First Instance issued a Ruling on Provisional Disposition on Colben Energy (Cambodia) PPSEZ Limited (CEZ) 51% held by PPSP and 49% held by Colben Energy Holdings (PPSEZ) Limited (CEHZ) which was delivered to CEZ yesterday. The Court Ruling on Provisional Disposition will effectively remove the current management of CEHZ from CEZ and be replaced by the management from PPSP with immediate effect. This is a very welcome move for PPSP and CEZ as we view this as accretive to the earnings of CEZ resulting ultimately for the benefit of both the shareholders of CEZ. |
| 8 - Reason | We want to take back control of CEZ. |
