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LEAF Leaf Clean Energy Company

454.00
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Leaf Clean Energy Company LSE:LEAF London Ordinary Share KYG541351352 ORD 0.01P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 454.00 390.00 400.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Leaf Clean Energy Company Update re. Invenergy Lawsuit Appeal (0344N)

19/09/2019 6:16pm

UK Regulatory


Leaf Clean Energy (LSE:LEAF)
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From Jun 2019 to Jun 2024

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TIDMLEAF

RNS Number : 0344N

Leaf Clean Energy Company

19 September 2019

This announcement contains inside information defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

19 September 2019

Leaf Clean Energy Company

Invenergy Lawsuit Appeal Update

As previously announced, on July 9, 2019, Invenergy Renewables, LLC ("Invenergy") filed a notice of appeal with the Delaware Supreme Court ("Supreme Court") to contest the Final Order and Judgement issued by the Chancery Court of Delaware ("Chancery Court") in Leaf Invenergy Company, LLC v. Invenergy Wind LLC, C.A. No. 308, 2018 (the "Invenergy Lawsuit") on June 14, 2019. On July 10, 2019, Leaf filed a motion to expedite with the Supreme Court in order to accelerate the appeal proceedings. In its opposition to the motion, Invenergy clarified that it is only appealing the Chancery Court's award of prejudgment interest to Leaf. On July 24, 2019, the Supreme Court issued an order granting Leaf's motion to expedite the aforementioned proceedings. On July 25, 2019, the Supreme Court issued a notice stating the Supreme Court would consider the appeal, without oral argument, on September 18, 2019.

UPDATE

On September 19, 2019 the Supreme Court issued its opinion in Invenergy's appeal of the Chancery Court's award of interest to Leaf, affirming the Chancery Court's award. As a result of this opinion, Leaf will retain the US$30.0 million of interest already received from Invenergy which had been reserved by Leaf pending Invenergy's appeal. The Supreme Court's opinion will be posted on Leaf's website at www.leafcleanenergy.com/media-relations/download-centre.

The Leaf Board will revert to the shareholders with additional details regarding the wind down of the Company, including the process and timing of any further compulsory partial redemptions of shares in due course.

For further information please contact:

Mark Lerdal +1 (415) 264-5096

Leaf Clean Energy Company

   Nicholas Wells/Callum Davidson                                           +44 (0) 207 397 8980 

Cenkos Securities plc

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

September 19, 2019 13:16 ET (17:16 GMT)

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