Yes Norway, you should read the announcement,
There is no comment on any other legal dispute, all of the disputes with MRC, its minority shareholder, employees, and the directors end once the payment has been made.
Details of the terms of the settlement are confidential but include:
(a) MRCGN agrees to pay BSG the amount of USD$1,266,667 by 7 July 2023 (“First
Tranche”) and USD$633,333 by 17 November 2023;
(b) On the date the First Tranche is paid to BSG:
a. the Parties mutually release each other from all claims (including the Writ
of Summons2
), and withdraw all dispute notices and default notices, and
any other claims regarding the Shareholders Deed or the Proceedings;
b. they also agree to ensure that their respective officers, employees and agents
or any person with whom it is associated in any way, or any Related Entity does
not commence or maintain any claim or action (including any claim for costs)
against the other party regarding such matters;
c. Legal and beneficial title to, and risk in, the BSG Shares passes to MRCGN, free
of any encumbrances;
d. BSG’s representative will resign as a Director of Skaland; and
e. the Shareholders Deed will be terminated;
(c) Standard confidentiality and non-disparagement clauses; and
(d) Each Party will bear its own costs.
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