StockMarketWire.com - Amerisur Resources said its sale to Geopark remained in play after a court ruled that environmental damages against the company should be heard at a later date after the transaction had been completed.

'At the hearing the court agreed with Amerisur's position that the substantive merits of the application should be heard at a later date, expected to be in early March, following the completion of the transaction,' the company said.

The court did not grant a worldwide freezing order and declined to order any disclosure of assets by the company, Amerisur said. The court did, however, issue an interim freezing order of approximately £3.2m of the company's UK assets, but the value that was significantly lower than the amount claimed in the application, it added.

Members of the farming community in Putumayo, Colombia filed a case against Amerisur, seeking £82,500 in total, or £5,500 each, in compensation for environmental damaged they believe was caused by the company.

The ruling would not prevent the company sale to GeoPark, which needed to be sanctioned by the court. The court hearing to approve the sale of Amerisur would take place on 14 January.


At 8:05am: [LON:AMER] Amerisur Resources PLC share price was +0.03p at 19.17p



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