DGAP-News: Locafrique / Key word(s): Legal Matter
Complaint: Locafrique claims 170 billion from SAR before the English courts
The company Locafrique (www.Locafrique-sf.com) is claiming 170 billion from Société Africaine de Raffinage (SAR) and a complaint has been filed with the London Court of Appeal, according to their lawyers. Mr. Seydou Diagne, El Hadj Diouf and Démba Ciré Bathily made the announcement at a press conference on Wednesday.
"This is what justified our announcement today that a complaint is being filed imminently before the English courts, notably the London Court of Appeal, to claim the amount of 170 billion CFA francs from Société Africaine de Raffinage," he added before Mr. El Hadj Diouf and Mr. Démba Ciré Bathily.
It should be noted that this conference was held after a summary victory by Locafrique against SAR and Petrosen in the Commercial Court for abuse of minority rights. These two companies wanted to go through AFC at all costs in order to raise 192 billion CFA francs and recapitalise SAR. An operation described by the shareholder Locafrique as costly, since AFC would end up with millions of dollars in commissions. And this Wednesday, the summary judge disavowed them, rejecting all their arguments.
Distributed by APO Group on behalf of Locafrique
24.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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