Phoenix Power Company has announced that the arbitration proceedings initiated by Daewoo Engineering & Construction Co. Ltd. (the “EPC Contractor”) against the Company, in London, relating to the Early Power Period (disclosed in IPO prospectus), has been settled and the associated arbitration proceedings have therefore been terminated. The Company also clarified that the settlement will not impact the company’s ability to pay dividends to shareholders or require the company to revise the dividend forecast made in its IPO Prospectus. (company disclosure)