A reminder to Jibby & Co. Your 5th business day is due:
RNS Number : 7196M
Following the announcement on 24 April 2017 (RNS Number 1128D) of the settlement reached between International Petroleum Investment Company PJSC (IPIC), Aabar Investments PJS (Aabar), the Minister of Finance (Incorporated) Malaysia (MoF Inc.) and 1Malaysia Development Berhad (1MDB) in respect of the arbitration proceedings commenced by IPIC and Aabar at the London Court of International Arbitration (the Settlement), and the announcement on 11 May 2017 (RNS Number 8298E) of the consent award in respect of the Settlement (the Consent Award), IPIC has not received the payments of US$602,725,000 and US$26,024,509.59 that were due to be paid under the Consent Award and the Settlement by MoF Inc. and 1MDB by 31 July 2017. Under the Settlement, there is a five business day cure period for MOF Inc. and 1MDB to remedy their non-payment before MOF Inc. and 1MDB become subject to additional obligations to IPIC and Aabar.
For further information, please contact:
International Petroleum Investment Company PJSC