Portek

Portek: Will incur a charge of $3.3m above provision of $6.8m. This was related to difficulty of determining profit sharing arrangement with Gabon partner BJCN&M. It was decided by both parties to submit the issue for arbitration in Paris, France where the courts awarded BJCN&M $10.1m with no further claim to profits in Gabon. There is an conditional cash offer for co at $1.20 per share till 20 July 2011 by offeror ICTS Far East.