DRA Global Resolves Dispute with MACH Energy

DRA Global Ltd. (AU:DRA) has released an update.

DRA Global Limited has amicably settled a legal dispute with MACH Energy, agreeing to a payment of A$96 million over two years, secured by bonds, and a mutual release of claims without admission of liability. The settlement, which is expected to incur an additional pre-tax expense of A$30-40 million for DRA, will be funded through cash, insurance proceeds, and banking facilities, ensuring no effect on the company’s ongoing operations. DRA CEO James Smith emphasized the resolution ends a costly legal uncertainty, allowing the company to focus on its strong operating performance and strategic growth.

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