Scottish & Southern Energy PLC
02 August 2005
SSE RECEIVES SECOND DISTRIBUTION PAYMENT FROM TXU ADMINISTRATOR
Scottish and Southern Energy plc ('SSE') has today received a second net
distribution payment of £41.6m from the administrators of TXU Europe Group plc
in respect of its agreed claim.
SSE announced on 3 December 2004 that its subsidiary, SSE Energy Supply Ltd, had
agreed a claim of £294.2m with the administrators, and certain of its
subsidiaries, in respect of a 14-year contract originally entered into in 1997.
Following approval of the company voluntary agreement on 28 January 2005 the
first net distribution of £159.1m was received on 31 March 2005 from the
administrator.
In it's Preliminary results statement in May 2005, SSE said it expected to
receive further distributions of up to £100m and that over 85% of its agreed
claim would be settled. Following this second payment, SSE expects to receive
further distributions of up to £60m by the spring of next year.
Enquiries to:
Scottish and Southern Energy
Alan Young, Director of Corporate Communications 0870 900 0410
Denis Kerby, Investor and Media Relations Manager 0870 900 0410
This information is provided by RNS
The company news service from the London Stock Exchange
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