Press Release 15/07/2015

The information published by Maghreb confidential and the 360 site are related to an action brought against SAMIR by four ship-owners in New York court, which objective is to get a garnishment of 1.386.366,64 USD from Citibank and “la RAM”.

These ship-owners have previously claimed from SAMIR the settlement of a demurrage related to the chartering of four ships in the court of London.
These cases, which are common in the refining industry, are still pending in London Jurisdiction.

SAMIR believes that it has strong legal arguments to resist against these claims. Yet, it cannot anticipate the judicial coming decisions. If the company was to comply with the requests of the ship-owners, the financial situation and the actions of SAMIR in the stock exchange will not be impacted, given that the amount is very limited.

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