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29 Jun 2015 17:29
29 June 2015
REACT Energy plc
("REACT" or the "Company")
Corporate Update
Further to the announcements of 20 May 2015, 3 June 2015 and 8 June 2015, the Company announces that in line with his statutory duty, the Examiner appointed to REACT (and its related companies) continues to conduct a review of the Company's affairs and has formulated proposals for a scheme of arrangement (the "Scheme") which will be presented at meetings of the Company's shareholders and creditors and, it is expected, for the subsequent approval of the High Court in Ireland.
On 17 June, the Examiner obtained from the Court an extension of time until 29 June in relation to the filing of his report in relation to the Scheme.
As part of the extension obtained on 17 June 2015 the High Court required that the shareholder and creditor meetings previously held be reconvened in order to present further information on the Scheme to both shareholders and creditors. To this end shareholders and creditors have been notified today of meetings to be held at various times on Friday 3 July 2015 at the Radisson BLU Royal Hotel, Golden Lane, Dublin, Ireland.
A further extension in relation to the filing of the Examiner's report was sought and received today until Monday 6 July 2015.
Further updates will be provided in due course.
- Ends -
For further information:
REACT Energy plc | +353 (0)21 2409 056 |
Gerry Madden/Brendan Halpin | |
Shore Capital - Nomad & Broker | +44 (0)20 7408 4090 |
Pascal Keane / Anita Ghanekar |
About REACT
REACT Energy plc is committed to operating clean electricity and heat generation plants in the UK and Ireland.
The Company identifies, builds owns and operates plants and possesses significant knowledge of energy markets, clean technologies, fuel sources, project development, project finance and project delivery.
REACT currently has four operational clean energy plants generating revenue from the sale of electricity and heat.
The generation of clean electricity and heat from sustainable sources has the potential to address the key energy challenges of energy security and carbon commitment and provide strong returns on capital employed.
The company is listed on AIM and trades as REAC.www.reactenergyplc.com
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