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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Econergy Intl | LSE:ECG | London | Ordinary Share | GB00B0WV7V00 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 45.00 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number : 6551X
Econergy International Plc
26 June 2008
26 June 2008
Econergy International PLC ("Econergy" or the "Company")
Settlement of litigation
As announced on 6th May 2008, an action was brought by Hydro Partners LLC, ("HP") in the Northern District of Ohio against, inter alia,
the Company's affiliate Econergy Energy Generation Ltd. ("Econergy Energy"). HP was pursuing a claim to compel Econergy Energy to close the
Pipoca stock transaction and seeking, inter alia, specific performance of certain aspects of the share purchase agreement dated 25 January
2007 that has been entered into between, inter alia, Econergy Energy and HP in relation to such transaction. A conditional settlement of
this action has been agreed (the "Settlement").
The key terms of the Settlement include a full release of all claims by HP. The Settlement is conditional upon the sale of the Pipoca
project to a third party. Econergy has been informed that HP is in the advanced stages of completing such a transaction.
=-ENDS--
Contacts:
Econergy International PLC
Tom Stoner, Chief Executive Tel: +1 303 473 9007
Pelham Public Relations
Archie Berens Tel. +44 (0)20 7743 6679
This information is provided by RNS
The company news service from the London Stock Exchange
END
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