The Board of Directors (“Board”) of AusGroup Limited (“Company”) wishes to provide an update on the dispute with Karara Mining Limited (a company incorporated in Perth, Western Australia) (“KML”) in regards to the contract for structural, mechanical and piping installation works carried out by the Company’s wholly-owned subsidiary, AGC Industries Pty Ltd (“AGC”) at KML’s Karara Iron Ore Project in Western Australia.
The Supreme Court of Western Australia has delivered judgement to the legal proceedings between AGC and KML in the Supreme Court of Western Australia on 3 May 2019, dismissing AGC’s claims.
AusGroup is reviewing the judgment with respect to possible grounds of appeal. Any appeal will require to be lodged within 21 days.
We will provide a further update to the market in due course.
By Order of the Board