Further re Winding up KFL

RNS Number : 8974S

React Energy PLC

29 September 2014

 



29 September 2014

REACT Energy plc

("REACT" or the "Company")

Winding up of Kedco Fabrication Limited

Further to the announcement on 12 September 2014, REACT Energy plc (AIM: REAC), the energy infrastructure developer and operator which focuses on the production of clean energy in the UK and Ireland today announces that following shareholder and creditor meetings held on 29September 2014, Kedco Fabrication Limited ("KFL"), which is a direct subsidiary of REACT, entered into creditors' voluntary liquidation following the appointment of a liquidator to the company.

Pursuant to Rule 17 of the AIM Rules for Companies (the "AIM Rules"), the following disclosure falls to be disclosed under Schedule Two, paragraph (g) of the AIM Rules: the directors of Kedco Fabrication Limited are Gerry Madden and Brendan Halpin who are also directors of REACT.

The total amount of net debt owed by KFL to creditors is £1.5 million of which £1.4 million is owed to REACT.

As from 29 September 2014, the balance sheet of KFL will no longer be consolidated into the reported results of REACT. 

- Ends -

For further information:

REACT Energy plc	[phone]
Gerry Madden / Brendan Halpin
Shore Capital - Nomad & Broker	[phone]
Pascal Keane / Anita Ghanekar
Yellow Jersey PR Limited - Public Relations	[phone]
Dominic Barretto / Anna Legge

About REACT

REACT Energy plc is committed to operating clean electricity and heat generation plants in the UK and Ireland.

The Company identifies, builds owns and operates plants and possesses significant knowledge of energy markets, clean technologies, fuel sources, project development, project finance and project delivery.

REACT currently has four operational clean energy plants generating revenue from the sale of electricity and heat.

The generation of clean electricity and heat from sustainable sources has the potential to address the key energy challenges of energy security and carbon commitment and provide strong returns on capital employed.

The company is listed on AIM and trades as REAC.www.reactenergyplc.com

 

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