20 Feb 2020 17:06
20 February 2020
RDL Realisation Plc
("RDL" or the "Company")
Princeton Update
On Wednesday 19 February 2020, the Court-appointed Chapter 11 Trustee in the Princeton Alternative Income Fund ("PAIF") Chapter 11 case filed a Fifth Amended Plan of Reorganisation (the "Amended Plan") and related pleadings requesting the Bankruptcy Court to confirm the Amended Plan and approve a settlement agreement incorporated under its terms. The Amended Plan is the result of extensive negotiations between the Trustee, RDL, other investors and MicroBilt Corporation and its related entities and persons. As a result of these negotiations, the Amended Plan has the support of all key economic constituents in the Chapter 11 case. The Amended Plan provides a cash payment to RDL on the effective date of the Amended Plan in the amount of US$13,483,500.
The Bankruptcy Court has set a hearing date of 13 March 2020 to rule on the confirmation of the Amended Plan. The effective date of the Amended Plan is expected to occur before the end of March 2020, at which time RDL should receive the cash distribution under the terms of the confirmed Amended Plan and a related confirmation order.
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation (EU) 596/2014.
For further information, please contact:
Link Company Matters Limited
Secretary
+44 (0)1392 477571
LEI: 549300VGZSKYQ7C2U221