Legal Process Update

MetalNRG PLC

03 May 2023

 

3 May 2023

     MetalNRG plc

                                                      Payment received from court

MetalNRG plc ("MetalNRG" or the "Company") announces that funds of £545,000 have now been received from court in settlement of the principal amount due back from BritNRG Ltd and Brit Energy Holdings LLP.

Following the rejection by the High Court in London, for the defendants to appeal summary judgement, they were ordered to pay MetalNRG the sum of £1,019,999, plus costs, plus appeal costs and interest. To date, the Company confirms that it has received the principal  amount, the appeal costs as ordered by the judge and the parties are seeking agreement on the main costs while the Company awaits payment of interest on the principal amount due.

Rolf Gerritsen commented:

            "With the final tranche of money now being returned to the Company and the successful judgement in Scotland we can begin to see the end of the legal issues we have faced and really start focusing on what is most important to us,  and that is driving the Company forward".

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Contact details:

MetalNRG plc Rolf Gerritsen Christopher Latilla-Campbell	[phone]
Corporate Broker PETERHOUSE CAPITAL LIMITED Lucy Williams/Duncan Vasey	[phone]
Corporate Broker SI CAPITAL LIMITED Nick Emerson	[phone]

 

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