REG - GreenX Metals Ltd - A$1.6m Received for Legal Costs from Poland

GreenX MetalsAnnouncement

25/03/2026 07:00

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RNS Number : 0395Y  GreenX Metals Limited  25 March 2026

 

NEWS RELEASE 25 March 2026

GreenX Receives A$1.6 million Payment for Legal Costs from Poland Following
Singapore Court Ruling

·           In January 2026, the Singapore International Commercial
Court of the Republic of Singapore (Singapore Court) issued a judgment
rejecting, in its entirety, Poland's application to set-aside the Energy
Charter Treaty (ECT) award

·           Following this rejection, the Company was awarded
~A$1.6 million by the Singapore Court, payable by Poland, fully reimbursing
GreenX for all its legal costs claimed in defending Poland's failed ECT
set-aside motion

·           GreenX confirms that the A$1.6 million has now been
paid by Poland in full

·           The Company is currently preparing for enforcement
activities of the ECT award following the Singapore Court's rejection of
Poland's ECT set-aside motion

 

 

GreenX Metals Limited (ASX:GRX, LSE:GRX, GPW:GRX, Germany-FSE:A3C9JR) (GreenX
or Company) is pleased to announce that following the Singapore Court's
rejection of Poland's ECT set-aside motion and the award of A$1.6 million in
its costs incurred in defending Poland's failed set-aside proceedings, the
Company has now received the full amount of A$1.6 million from Poland.

As previously advised, in October 2024, GreenX was awarded approximately £252
million (A$519 million / PLN 1.2 billion) in compensation and interest in the
Australia-Poland Bilateral Investment Treaty (BIT) award after the Tribunal
unanimously held that Poland breached its obligations under the BIT and ECT.

At the time, approximately £183 million (A$378 million / PLN 900 million) was
awarded pursuant to the ECT (with payments under one award offset against the
other).

In 2025, Poland lodged a request to set-aside the ECT award in the Singapore
Court (having also lodged a request to set-aside the BIT award in the courts
of England and Wales in late 2024). The hearing for the ECT set-aside was held
in the Singapore Court in July 2025.

In January 2026, the Singapore Court issued a judgment rejecting, in its
entirety, Poland's application to set-aside the ECT award.

In February 2026, GreenX submitted a request to the Singapore Court to order
Poland to reimburse it for its costs claimed in defending its rights in the
set-aside proceedings, which amounted to A$1.6 million (comprising US$383,005,
£516,109 and SGD 43,733).

Following this request, the Singapore Court issued an order requiring Poland
to pay the A$1.6 million, which has now been paid in full.

Poland has applied to the Court of Appeal of the Republic of Singapore (Court
of Appeal) to challenge the rejection of the first ECT set-aside motion. It is
expected that this appeal will be dealt with in the second half of the year by
the Court of Appeal, following which Poland will have no further rights of
appeal within the Singapore courts. The threshold to succeed on a set-aside
motion in either the Singapore or English courts is very high, with the courts
rejecting set-aside applications in the vast majority of cases.

The Company will continue to defend its awards and update the market in line
with its continuous disclosure requirements.

 

ENQUIRIES

 Ben Stoikovich            Kazimierz Chojna

 Chief Executive Officer   Investor Relations - Poland

 +44 207 478 3900          Kim Eckhof

 ir@greenxmetals.com       Investor Relations - UK / Germany

 

Forward Looking Statements

This release may include forward-looking statements. These forward-looking
statements are based on GreenX's expectations and beliefs concerning future
events. Forward looking statements are necessarily subject to risks,
uncertainties and other factors, many of which are outside the control of
GreenX, which could cause actual results to differ materially from such
statements. GreenX makes no undertaking to subsequently update or revise the
forward-looking statements made in this release, to reflect the circumstances
or events after the date of that release.

 

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