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Pin to quick picksMetalnrg Plc Regulatory News (MNRG)

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Litigation Update

27 Oct 2022 07:00

RNS Number : 3105E
MetalNRG PLC
27 October 2022
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

27 October 2022 

Litigation Update

MetalNRG plc ("the Company") announces that further to the High Court's written judgements in the Company's application for summary judgement against BritEnergy Holdings LLP and BritNRG Ltd, the first and third defendants (together the "Defendants"), in its action for recission of certain contracts and restitution, the deadline for the Defendants to make payment to the Company in the sum of £1,122,961.85 (which includes interest awarded and interim costs recovery) was 4.00pm yesterday (26th October 2022) (the "Payment Deadline").

 

The Company received a total of £250,001 before the Payment Deadline and were informed that further £250,000 had been remitted, although as at the current time the second payment has not actually been received, accordingly the Defendants are currently in default in the sum of £972,960.85.

 

Given that representatives of the Defendants made public statements that they were able to pay the judgement in full, additionally requesting and being granted an extra 14 days from the court to pay over the standard 14 day period, and that the Defendants are now in default of those judgements made by the High Court, the Company will today issue statutory demands for the unpaid balance, as a measure to protect it and its shareholders interests, and if such balance is not paid in full by the Defendants (with such additional interest as may accrue), will proceed to petition for the winding up of, or administrators appointed over, the Defendants on grounds of insolvency.

 

END

 

Contact details:

MetalNRG plc

Rolf GerritsenChristopher Latilla-Campbell

+44 (0) 20 7796 9060

Corporate BrokerPETERHOUSE CAPITAL LIMITEDLucy Williams/Duncan Vasey

+44 (0) 20 7469 0930

Corporate BrokerSI CAPITAL LIMITEDNick Emerson

+44 (0) 1483 413500

 

 

4148-7076-0001.1

 

 
 
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UPDEASEXASSAFEA
Date   Source Headline
27th Oct 202210:52 amRNSFurther litigation update
27th Oct 20227:00 amRNSLitigation Update
17th Oct 20227:00 amRNSLitigation Update
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5th Oct 202212:18 pmRNSHolding(s) in Company
30th Sep 20227:00 amRNSHalf-year Report
28th Sep 20223:04 pmRNSUpdate on Legal Proceedings
25th Aug 20227:00 amRNSIssue of Equity
8th Aug 20227:00 amRNSUpdate on Legal Proceedings
29th Jun 202211:45 amRNSRequest for a General Meeting
20th Jun 20223:49 pmRNSResult of AGM
8th Jun 20227:00 amRNSLegal Proceedings Update
27th May 20227:00 amRNSAnnual Report and Notice of AGM
26th May 20227:00 amRNSLegal Proceedings Update
18th May 20227:00 amRNSGold Ridge - Results from Geochemical Sampling
29th Apr 20229:45 amRNSFinal Results
18th Mar 20227:00 amRNSUpdate on legal proceedings
9th Mar 20227:00 amRNSEQTEC Business Partnership Funding Update
28th Feb 20227:00 amRNSBritNRG Update
2nd Feb 20227:00 amRNSUpdate on the Company’s EQTEC Italia Investment
2nd Feb 20227:00 amRNSISSUE OF CONVERTIBLE LOAN NOTES
31st Jan 20227:00 amRNSCommencement of legal proceedings
18th Jan 20227:00 amRNSResearch Note publication
16th Dec 20217:00 amRNSEQTEC PLC SHARE EXCHANGE AND TOTAL VOTING RIGHTS
22nd Nov 20217:00 amRNSGoldridge Update
18th Nov 20212:58 pmRNSHolding(s) in Company
18th Nov 20212:05 pmRNSSecond Price Monitoring Extn
18th Nov 20212:00 pmRNSPrice Monitoring Extension
18th Nov 20217:00 amRNSBritNRG Limited Update
5th Nov 20212:11 pmRNSHolding(s) in Company
5th Nov 20212:08 pmRNSHolding(s) in Company
26th Oct 20217:00 amRNSItalian Waste to Energy Plant Update
25th Oct 20215:05 pmRNSHolding(s) in Company
25th Oct 20217:00 amRNSDirectorate Change
19th Oct 20217:00 amRNSHolding(s) in Company
19th Oct 20217:00 amRNSHolding(s) in Company
7th Oct 20217:00 amRNSHoldings in Company
6th Oct 20217:00 amRNSIssue of Equity
29th Sep 20217:00 amRNSHalf-year Report
9th Sep 20217:00 amRNSHolding(s) in Company
1st Sep 20217:00 amRNSBritNRG Operational Update
31st Aug 20217:00 amRNSHolding(s) in Company
26th Aug 20215:03 pmRNSHolding(s) in Company
20th Aug 20217:00 amRNSConversion of loan facility and Issue of Equity
21st Jul 20217:40 amRNSIssue of Equity
6th Jul 20217:00 amRNSIssue of Equity
25th Jun 20212:33 pmRNSResult of Annual General Meeting
24th Jun 20219:24 amRNSDirector Dealing
21st Jun 20219:48 amRNSDirector Dealing

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