Goldbug100 - Ceramic Fuel Cells (CFU.L) will receive approximately $3.9m from Oakvale Capital Limited,

If the writer´s memory is correct the share price plunged when it was learnt that thanks to it´s Investment advisor at the time it had lost money so this news is good for the company and it´s shareholders

Monday 16 August 2010

 

 

Company Announcement

 

CERAMIC FUEL CELLS TO RECEIVE $3.9 MILLION FROM LEGAL CASE

 

 

Ceramic Fuel Cells Limited [AIM/ASX: CFU], a leading developer of high efficiency and low emission electricity generation units for homes and other buildings, will receive approximately $3.9 million from a legal case against its former investment advisor.

 

In late 2009 Ceramic Fuel Cells began legal action in the Federal Court in Melbourne against its former investment and treasury advisor, Oakvale Capital Limited, relating to losses suffered by Ceramic Fuel Cells on financial investments.  The litigation was funded by ASX-listed litigation funder IMF Australia Limited.  IMF is paying the costs of the litigation, including the Company’s legal costs, in return for an agreed share of any judgment or settlement sum. 

 

Ceramic Fuel Cells and IMF have agreed to settle the case against Oakvale Capital Limited, with Oakvale’s insurer to pay the agreed settlement sum by 27 August 2010.  After legal costs and IMF’s agreed share of the settlement sum, Ceramic Fuel Cells will receive approximately $3.9 million including GST. 

 

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All CFCL announcements are also available at ASX's website  (If your browser does not support links, go direct to www.asx.com.au and search for announcements by CFU.)    

CFCL's AIM announcements, and current AIM price, is available at www.londonstockexchange.com (code CFU). 

More information about CFCL - including presentations, announcements and images for download - is available at www.cfcl.com.au  

Regards,  

Andrew Neilson
Group General Manager Commercial CERAMIC FUEL CELLS LIMITED
Tel: +61 (0)3 9554 2300 

Email: investor@cfcl.com.au

PRICES

Date Open High Low Close Avg Vol Adj Close* Aug-10 12.00 13.05 10.95 11.54 371,200 11.54 Jul-10 9.25 12.00 8.40 11.75 654,600 11.75 Jun-10 9.62 10.02 8.75 9.00 641,000 9.00 May-10 12.25 12.50 8.26 9.75 1,794,000 9.75 Apr-10 12.75 14.00 11.25 12.50 1,022,700 12.50 Mar-10 9.75 13.75 9.50 12.53 1,167,800 12.53 Feb-10 10.00 10.30 8.10 9.26 984,500 9.26 Jan-10 12.50 13.73 9.62 10.10 862,500 10.10 Dec-09 13.25 13.25 11.60 12.35 740,900 12.35 Nov-09 12.75 13.75 11.75 12.50 584,100 12.50 Oct-09 16.75 17.40 11.00 13.25 923,600 13.25 Sep-09 10.25 17.50 9.51 16.65 790,800 16.65 Aug-09 8.75 11.25 7.85 10.20 1,471,200 10.20 Jul-09 8.38 9.50 7.25 8.85 1,457,800 8.85 Jun-09 7.47 10.00 7.00 8.25 2,852,700 8.25 May-09 3.62 12.84 3.50 7.45 8,112,200 7.45 Apr-09 3.25 4.00 2.80 3.50 2,874,000 3.50 Mar-09 3.38 4.75 2.75 3.60 1,508,400 3.60 Feb-09 2.62 7.10 2.00 4.85 4,364,300 4.85 Jan-09 4.75 5.10 2.05 2.50 2,740,200 2.50 Dec-08 7.75 7.70 4.50 5.00 385,100 5.00 Nov-08 5.12 9.50 5.50 7.50 339,700 7.50 Oct-08 14.75 16.88 4.50 4.50 1,799,800 4.50 Sep-08 20.25 21.00 14.00 14.00 999,100 14.00 Aug-08 18.50 22.60 17.25 19.75 580,000 19.75 Jul-08 19.00 21.00 16.00 18.42 398,400 18.42 Jun-08 20.50 25.75 18.50 19.24 438,400 19.24 May-08 23.25 25.00 19.00 20.00 366,300 20.00 Apr-08 21.50 26.92 21.25 23.42 238,500 23.42 Mar-08 27.50 27.80 21.00 21.38 398,700 21.38 Feb-08 21.25 33.00 18.50 27.00 2,683,900 27.00 Jan-08 24.50 25.00 18.00 21.15 804,700 21.15 Dec-07 29.75 30.00 23.00 24.05 554,000 24.05 Nov-07 34.50 35.50 29.05 29.80 931,000 29.80 Oct-07 35.50 38.00 34.00 34.50 323,000 34.50 Sep-07 35.50 38.00 32.00 35.75 297,200 35.75 Aug-07 43.25 44.00 32.00 35.00 637,400 35.00 Jul-07 43.00 47.00 42.88 43.50 977,300 43.50 Jun-07 39.50 46.00 37.00 42.70 1,448,100 42.70 May-07 46.75 60.35 40.00 42.00 442,600 42.00 Apr-07 47.75 49.00 45.50 46.00 698,700 46.00 Mar-07 45.00 50.00 40.50 47.20 774,900 47.20 Feb-07 49.50 54.00 38.00 44.50 1,917,600 44.50 Jan-07 47.50 54.50 39.92 49.65 1,436,600 49.65 Dec-06 29.75 50.00 28.50 47.60 1,253,900 47.60 Nov-06 30.75 32.50 29.00 29.25 463,800 29.25 Oct-06 29.50 31.50 26.50 30.74 2,568,100 30.74 Sep-06 27.50 30.00 26.50 29.00 1,118,800 29.00 Aug-06 28.00 28.44 25.75 27.75 414,500 27.75 Jul-06 26.25 28.50 24.75 27.75 1,027,300 27.75 Jun-06 25.25 27.25 21.50 26.00 1,141,500 26.00 May-06 29.12 32.00 24.00 25.43 1,121,200 25.43 Apr-06 31.00 32.50 28.00 29.12 1,081,700 29.12 Mar-06 24.50 34.75 22.50 31.12 3,335,000 31.12 * Close price adjusted for dividends and splits.