1 Dec 2014 17:30
1 December 2014
Eco City Vehicles PLC (in Administration)
("ECV" or "the Company")
Notice of General Meting of Shareholders and Meeting of Creditors
As announced on 17 October 2014, Kirstie Jane Provan and Mark Robert Fry of Begbies Traynor (Central) LLP were appointed as joint administrators of the Company on 17 October 2014 pursuant to paragraph 22 of Schedule B1 of the Insolvency Act 1986 (the "Administrators").
The Administrators are pleased to announce that proposals for a Company Voluntary Arrangement ("CVA") have been formulated and dispatched to creditors and shareholders. Meetings have been convened for 22 December 2014 to allow creditors and shareholders to formally consider the same.
Separate proposals will put to shareholders of the Company to approve an increase in the share capital to permit funding proposals to finance a CVA dividend to be implemented. Further announcements will follow in due course.
Copies of the proposals sent to both shareholders and creditors can be viewed at http://www.ecocityvehicles.com/
Enquiries:
Eco City Vehicles plc (in administration)
Kirstie Provan, Joint Administrator +44 20 7516 1500
Allenby Capital (Nomad and Broker)
Nick Harriss/Nick Naylor +44 20 3328 5656