News from Sweden, page-95

What happened to the legal action below? Not going to matter now. This now must be worth a lot more than AEE current market cap of 172M.

Large shareholders
MM Asset mgmt  10'45%
Macquarie 10.44%
are these 2 seperate holdings?

Proksa and Hancock? large shareholders. how much?



Handelsgranskaren | 12 December 2019
Sweden sued for $1.8 billion due to environmental regulation
It was bound to happen eventually. For the first time, Sweden has recieved a notice of arbitration under the Energy Charter Treaty (ECT). A foreign mining company demands $1.8 billion in compensation due to a Swedish ban on the exploration and mining of uranium, passed by parliament last year. For Sweden, this is a sharp reminder of how international investment agreements might hamper environmental legislation.
The company, Aura Energy, is seated in Australia and has a Swedish subsidiary with extensive exploration permits for uranium in Sweden. Aura Energy is claiming that the measures adopted by the Swedish Parliament was, amongst other, discriminatory, arbitrary, violated the legitimate expectations of the investor, were contrary to public interest, and did not follow due process. Thus, they argue that the Swedish measure constitute an indirect expropriation and also violates the FET clause (fair and equitable treatment) of the ECT. Both these clauses, although more precisely defined, are present in the recently finalised trade agreement CETA.
The company claim $1.8 billion in compensation for loss of investment and future capital gains from said investment. This amount is far greater than the total Swedish state budget for the environment. Aura Energy said it has requested an “amicable settlement”. So far, the Swedish government has refused to comment.