In the end of June 2020, we reported on a potential dispute announcement made by the Board of Directors of Geo Energy Resources Limited (SGX: RE4) related to the Company’s corporate action agreed back in September 2019. The corporate action in question is related to the purchase of 100 percent of the existing shares in PT Titan Global Energy (PT TGE), part of PT Titan Infra Energy (PT TIE). The potential dispute arise because the current or former shareholders of PT TIE are reportedly in dispute in Indonesia. At the time, two different lawsuits are being examined at the Central Jakarta District Court, all relating to companies belonging to the Titan business group. Now, two years later, the public is finally aware of the complicated problems faced by the same business group.To subscribe please click here
