OREANDA-NEWS. December 03, 2015. The Board of JKX ("the Board") announces that the Supreme Court has today allowed an appeal by Eclairs Group Limited ("Eclairs") and Glengary Overseas Limited ("Glengary") and their nominees against the Court of Appeal's judgment that the voting restrictions placed on them on 31 May 2013 by JKX were valid. 

The High Court had already found that the Board had reasonable cause to believe that information provided by Eclairs and Glengary in response to requests from JKX for particulars of their respective interests in JKX was false or materially inaccurate.  It had further found that the Board acted in good faith with the intention of protecting the Company and its shareholders as a whole.

As a consequence of the Supreme Court's judgment, the votes cast by Eclairs and Glengary since 31 May 2013 do count.  Therefore Ordinary Resolution 2 and Special Resolution 9 at this year's Annual General Meeting on 3 June 2015, which respectively approved the Directors' Remuneration Report and authorised the Company to make market purchase of its own shares, were not passed.

The Board will consider the implications of the judgment and will continue to take all appropriate steps to protect and promote JKX's best interests.