Metalnrg Share Discussion Threads

[tomboyb] 21/3/2023 11:45

When you don't need money in this very difficult environment its worth having a look -

I hope Rolf works for the equity here -

Any company that does require equity will struggle -

MNRG does need no money -

[tomboyb] 21/3/2023 09:57

Roughly just this cash element is 0.1p -

Excludes all projects and current cash -

[tomboyb] 21/3/2023 09:50

Cash covers entire market cap -

[tomboyb] 21/3/2023 09:43

Rolf Gerritsen commented:

"We are delighted with this outcome which fully vindicates our approach. Brit Energy Holdings and BritNRG Ltd (of which Mr Rocco is a significant interest holder) have now lost in London's courts three times, Mr Rocco himself has lost in Scotland, and more importantly there is no further recourse in the London courts on the summary judgment case brought by the Company. Not only have we secured the repayment GBP1,019,999 but we have secured an order for the Corporate Defendants to pay our costs and interest on the principal amount. We sincerely hope that Mr Rocco and his affiliates will take notice of this judicial trend and allow the Company to focus on value creation for all interest holders rather than continuing to take untenable positions against the Company's (and investors') interests."

[tomboyb] 21/3/2023 09:41

MetalNRG PLC Legal Process Update
21/03/2023 9:36am
UK Regulatory (RNS & others)

Metalnrg (LSE:MNRG)
Intraday Stock Chart

Tuesday 21 March 2023

Click Here for more Metalnrg Charts.
TIDMMNRG

RNS Number : 5840T

MetalNRG PLC

21 March 2023

21(st) March 2023

MetalNRG plc

Legal Process Update

Significant win for the Company

MetalNRG plc ("MetalNRG" or the "Company") announces the outcome of the High Court oral renewed permission to appeal hearing held on 17(th) March 2023 concerning t he Company's claim for the return of the GBP1.02 million it paid to the corporate defendants, Brit Energy Holdings LLP and BritNRG Limited (the "Corporate Defendants").

In Summary:

-- The Corporate Defendants appeal was rejected and the outstanding GBP574,000 is now to be paid to the Company

-- The Corporate Defendants were ordered to pay interest which currently stands at GBP37,385.78
-- The Corporate Defendants were ordered to pay GBP23,805.61 to cover the Company's appeal costs for the summary judgement

-- The Corporate Defendants have been ordered to pay the Company's legal fees for the summary judgement proceedings with agreement to be reached on the final amount due

The Corporate Defendants had lost their case in the first instance and had paid GBP450,000 of the GBP1.02 million to the Company. The defendants had sought the right to appeal the summary judgement issued previously in respect of the GBP574,000 balance (having already had such permission denied on the papers). The Corporate Defendants also appealed a portion of the prior costs award made in the Company's favour.

The Court found in favour of the Company in both respects; refusing the Corporate Defendants leave to appeal and denying their substantive appeal on costs. The Corporate Defendants have been ordered to pay the Company's costs of these failed appeals.

Main appeal on the substantive judgment;

Brit Energy Holdings LLP ("D1") and BritNRG Limited ("D3") applied for permission to appeal the decision by Deputy ICC Judge Kyriakides to grant summary judgment in MetalNRG's favour on its claim against D1 and D3 under s190 of the Companies Act (substantial property transaction requiring shareholder approval that wasn't obtained).

Consistent with the prior ruling on the papers, permission to appeal was refused at the oral hearing on Friday 17(th) March the Judge saw no real prospect of the Corporate Defendants succeeding on their appeal, and no other compelling reason that there should be an appeal.

This means that the judgment made by Deputy ICC Judge Kyriakides in September 2022 stands and the stay of execution that was granted to the defendants, in the interim, has now been lifted. Which in turns means that the total principal amount due from D1 as at today's date, in respect of summary judgment is GBP611,385.78 (comprising the GBP574,000 of the original GBP1,019,999 that they have not yet paid to MetalNRG, but is with the Court, PLUS GBP37,385.78 in pre and post-judgment interest, which continues to accrue). It is expected that the sums already paid into Court will be promptly paid to the Company, and that the remainder will be paid to the Company within 14 days.

Costs appeal

On Friday 17(th) March there was a second hearing on one particular part of Deputy ICC Judge Kyriakides' costs judgment, which the defendants had appealed against. In particular, D1 and D3 were appealing against her decision that MetalNRG did not need to pay D1 and D3's costs from 13(th) September 2022 onwards If their appeal succeeded, then they would have been granted their costs (to be paid by MetalNRG) from 13(th) September 2022 through to 28(th) September 2022,

The appeal was refused.

The effect, as with the substantive judgment, is that the costs judgment made by Deputy ICC Judge Kyriakides in September 2022 stands and MetalNRG is entitled to their reasonable costs up to 13(th) September 2022 on this particular action.

The amount of these costs will be decided by detailed assessment proceedings if the parties cannot agree them.

Costs of the permission to appeal and costs appeal proceedings

Finally, the Judge awarded the Company GBP23,805.61 in respect of its costs of defending the entirely unsuccessful appeal proceedings. It is expected that these costs will be payable within 14 days of judgment which was on Friday 17(th) March 2023.

Rolf Gerritsen commented:

"We are delighted with this outcome which fully vindicates our approach. Brit Energy Holdings and BritNRG Ltd (of which Mr Rocco is a significant interest holder) have now lost in London's courts three times, Mr Rocco himself has lost in Scotland, and more importantly there is no further recourse in the London courts on the summary judgment case brought by the Company. Not only have we secured the repayment GBP1,019,999 but we have secured an order for the Corporate Defendants to pay our costs and interest on the principal amount. We sincerely hope that Mr Rocco and his affiliates will take notice of this judicial trend and allow the Company to focus on value creation for all interest holders rather than continuing to take untenable positions against the Company's (and investors') interests."

[tomboyb] 21/3/2023 08:28

EQT raises £3.5million -

[tomboyb] 14/3/2023 14:24

Its stated that MNRG does not need any funds nor is looking for any funds in the market -

A bit of news could see this 0.1p+ -

And that would cap it at just over £1million -

[lew stules] 14/3/2023 12:20

A bit of positive News but the market seems to have lost all interest here?

[tomboyb] 14/3/2023 11:26

MetalNRG PLC EQTEC Italia MDC Update
14/03/2023 11:22am
UK Regulatory (RNS & others)

Metalnrg (LSE:MNRG)
Intraday Stock Chart

Tuesday 14 March 2023

Click Here for more Metalnrg Charts.
TIDMMNRG

RNS Number : 9285S

MetalNRG PLC

14 March 2023

14 March 2023

MetalNRG plc

EQTEC Italia MDC Update

MetalNRG plc ("MetalNRG" or the "Company") is pleased to confirm that EQTEC Italia, our joint investment with EQTEC and two family offices in a waste to energy plant in Italy is operational. EQTEC's technical commissioning team has commenced handover protocols for transferring plant operations to EQTEC Italia MDC srl ("Italia MDC")

The 1.1 MWe plant, located in Gallina, near Castiglione d'Orcia, Tuscany, Italy (the "Plant") had already commissioned gasification and biochar production capabilities in January 2023. On 8 March 2023, following commissioning of the Jenbacher 612 engine, the Plant exported its first electricity to the national power grid. To finalise calibration and performance testing of the engine and to support Handover Protocols, a representative of INNIO Jenbacher (Italia) will be on site from 15 March 2023. Following completion of this work on the engine and before the end of March, the Company expects to fully transfer plant operations to the Italia MDC staff.

Additionally, Italia MDC is pursuing a refinancing of the plant asset by an Italian bank. The technical advisor to the bank visited the Plant in March to complete a technical survey. Subject, inter alia, to the finalisation of the technical report, the Company expects that a funding agreement with the bank will be completed during Q2 2023.

Rolf Gerritsen commented "We are delighted with the commissioning of the Plant and look forward to further positive news over the next few months. With the re financing of the Plant MNRG should be able to recover some of its investment while maintaining its current equity position in the Plant".

END

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]

[tomboyb] 14/3/2023 09:19

Yet to move but EQT v good announcement today -

[tomboyb] 06/3/2023 14:00

MetalNRG Plc
@MetalNRGplc
·
50m
#MNRG #WtE #EQT
𝗜𝘁𝗮𝗹0310;𝗮 𝗠𝗗𝗖
The plant will process 10-12,000 tonnes per year of locally sourced agricultural and forestry waste, outputting 1MW of green electricity. Dr Yoel Aleman, Chief Technology Officer gives an overview, watch the video below.
hxxps://buff.ly/3XnHySV

[barts] 04/3/2023 10:44

Looks like inflection point this month....confirmed breakout of down trend around 0.23...but mind the gaps at 0.4 and 0.9...
It always amazes me how much value tailings dump works can add to a company plus the EQT effect....DYOR....GLA....AIMHO

[danmart2] 27/2/2023 07:40

RNS out

Petty and pointless RNS

[danmart2] 25/2/2023 07:53

Spent the last hour researching this company

What a piece of junk!

One may conclude it looks suspiciously similar to a lifestyle scam

Red flags galore

All the best to current shareholders

Watched the CEOs last interview on YouTube, awful performance despite the easy questions.

[ekuuleus] 30/1/2023 14:59

grab it while you can

[dr darkstar] 06/1/2023 16:17

Pretty much how I read it too

[excellance] 06/1/2023 08:35

So, Thomas the tank engine wants to take this over, with zero experience of even running a tea trolley?

[galarse] 22/12/2022 08:33

Wow BoD have decided to wake up due to incoming P45's in the new year!

[cerrosdelaguila] 02/12/2022 13:27

He obviously sees value in the company at this price

[tomboyb] 02/12/2022 08:27

Maybe Spence will up his stake -

[galarse] 02/12/2022 07:07

Looks like someone whats the board out!