30 Jan 2017 07:00
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Immediate Release
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GLOBAL ENERGY DEVELOPMENT PLC
(the "Company" or "Global")
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COMPLETION OF FORECLOSURE PROCESS & TRANSFER OF ASSETS
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Global Energy Development PLC (AIM: GED), announces that, further to the announcement of 16 January 2017, the foreclosure process associated with the Transaction B Assets is now complete and the Transaction B Assets have been transferred to Maritime Finance LLC, a vessel-owning company to be acquired pursuant to Transaction B, free from liens and encumbrances.
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As such, the remaining conditions precedent for completion of the Transactions are the passing of the Resolution at the General Meeting and Admission.
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Enquiries:
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Global Energy Development PLC
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finnCap Ltd
globalenergy@abchurch-group.com | Â |
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Capitalised terms shall have the same meaning as in the Admission Document posted to shareholders on 16 January 2017 unless the context requires otherwise.
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The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.