24 Jul 2018 16:44
LB-Shell plc
(the "Company")
Update
The directors of LB Shell plc ("LB-Shell") announce that they are in receipt of a Letter of Claim (the "Letter") from lawyers representing certain shareholders of the Company, in relation to activities of the Company in the period before the appointment of the current Board. Specifically, the matters referred to in the Letter relate to the conduct of the IPO of Intelligent Energy Holdings ("IEH plc"), the former name of LB-Shell plc, in July 2014 and the subsequent sale of substantially all of the business and assets of IEH plc to Meditor Energy Limited in October 2017.
The directors believe that the receipt of this Letter may create a material uncertainty which could cast doubt on the Company's ability to continue with its planned financial reconstruction, originally announced on 4th May 2018.
The Board will provide shareholders with further information as soon as practically possible.
The Directors accept responsibility for this announcement
Enquiries:
LB-Shell plc
Melissa Sturgess Tel: +44 7787 942 777
Email: ir@lb-shell.com
Peterhouse Capital Limited
Heena Karani and Lucy Williams Tel: +44 207 469 0933