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BRIEF-Memphasys says co and Prime Biologics Pte agreed by mutual consent in legal proceedings in NSW Supreme Court

Published 17/02/2017, 11:50 am
© Reuters.  BRIEF-Memphasys says co and Prime Biologics Pte agreed by mutual consent in legal proceedings in NSW Supreme Court
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Feb 17 (Reuters) - Memphasys Ltd MEM.AX

* Provides following details and a summary of dispute resolution process it has commenced

* Prime Biologics Pte Ltd ("Prime") and Memphasys Ltd have agreed by mutual consent in legal proceedings in Nsw Supreme Court

* Now filed an application for arbitration in Singapore to hear and resolve dispute between Memphasys, Prime Biologics and Manukan

* Arbitration will primarily deal with s$4.8 million debt associated with fit-out of rental facility that prime is using in singapore

* Memphasys remains optimistic that a positive outcome from arbitration process will be achieved Source text for Eikon: ID:nASXv3YHL Further company coverage: MEM.AX

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