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MNRG Metalnrg Plc

0.045
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Metalnrg Plc LSE:MNRG London Ordinary Share GB00B15FS791 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.045 0.04 0.05 0.045 0.045 0.045 2,405,391 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec 0 -2.22M -0.0018 -0.22 492.68k

MetalNRG PLC Legal Proceedings Update (8467M)

26/05/2022 7:01am

UK Regulatory


Metalnrg (LSE:MNRG)
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From Mar 2022 to Mar 2024

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TIDMMNRG

RNS Number : 8467M

MetalNRG PLC

26 May 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

26 May 2022

MetalNRG plc

Update re legal proceedings against Brit Energy Holdings LLP, Pierpaolo Rocco and BritNRG Limited

MetalNRG plc ("MetalNRG" or the "Company") announces that, in its continuing civil legal proceedings in the English High Court against Brit Energy Holdings LLP (the "LLP"), Mr Pierpaolo Rocco ("Mr Rocco") and BritNRG Limited (the "Joint Venture Company"), it has filed and served an application for summary judgment against the LLP and the Joint Venture Company for, inter alia; (1) the striking out of the defences filed by the LLP and the Joint Venture Company; (2) a declaration that the series of agreements entered into in April 2021 should be set aside; and (3) the recovery from those defendants of monies paid to the LLP totalling GBP1,019,999, plus interest and costs.

The application for summary judgement has been made on grounds that no sustainable or credible defence has been pleaded in the case to date by either the LLP or the Joint Venture Company. It is, of course, expected that the application will be defended and it will be necessary for the Court to rule on it in due course.

For technical reasons, the application for summary judgement has not been made against the second defendant, Mr Rocco. However, if successful, the application for summary judgement will significantly narrow the issues in dispute with Mr Rocco to be heard at any future trial.

It is alleged that the LLP is, and was at the time of the transactions in April 2021, owned as to at least 70% by Mr Rocco and/or a company connected with him for the purposes of section 252 Companies Act 2006.

The Company will provide further updates on the application for summary judgement in due course.

END

Contact details:

 
 MetalNRG plc 
  Rolf Gerritsen 
  Christopher Latilla-Campbell     +44 (0) 20 7796 9060 
 Corporate Broker 
  PETERHOUSE CAPITAL LIMITED 
  Lucy Williams/Duncan Vasey       +44 (0) 20 7469 0930 
                                 ---------------------- 
 Corporate Broker 
  SI CAPITAL LIMITED 
  Nick Emerson                     +44 (0) 1483 413500 
                                 ---------------------- 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCKZGZKGKDGZZZ

(END) Dow Jones Newswires

May 26, 2022 02:01 ET (06:01 GMT)

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