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Completion of Foreclosure Process

30 Jan 2017 07:00

RNS Number : 4123V
Global Energy Development PLC
30 January 2017
 

 

Immediate Release

 

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company" or "Global")

 

COMPLETION OF FORECLOSURE PROCESS & TRANSFER OF ASSETS

 

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.

 

As such, the remaining conditions precedent for completion of the Transactions are the passing of the Resolution at the General Meeting and Admission.

 

 

 

Enquiries:

 

Global Energy Development PLC

Anna Williams, Director of Strategy and Business Development

+1 817 424 2424, ext 110

awilliams@globalenergyplc.com

www.globalenergyplc.com

 

 

 

finnCap Ltd

Christopher Raggett/Scott Mathieson/Kate Bannatyne (Corporate Finance)

0207 220 0500

Emily Morris (Corporate Broking)

 

Abchurch

Tim Thompson/Rebecca Clube

0207 398 7700

globalenergy@abchurch-group.com

 

 

 

Capitalised terms shall have the same meaning as in the Admission Document posted to shareholders on 16 January 2017 unless the context requires otherwise.

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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