Amerisur Resources (AMER) says its takeover by GeoPark Colombia is not threatened by a legal action brought in London against it this week.
A court has issued a freezing order over £3.2m in assets in the UK, but has allowed the buyout to go ahead next week.
The company will likely be delisted from Aim this month when the 19.21p per share cash sale goes through, but the court order will make sure there are assets in the UK to claim from.
A group of farmers from Colombia’s Putumayo region says Amerisur’s operations have made water from rivers in their area unsafe for drinking, fishing and bathing, according to law firm Leigh Day. The company said the claims were without merit, and had already been looked into by a Colombian environmental regulator.
The two parties – with the farmers represented by Leigh Day – have different opinions on the possible costs of the case. Amerisur said there were 15 claimants, each with a loss of £5,500 from the pollution. Leigh Day said it had 87 clients from the region, and could draft another 400 or so into the case.
The case will next be heard in March, when Amerisur shareholders will have their cash and the company will be based in Colombia.
