MetalNRG PLC Update on Legal Proceedings (0439B)

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RNS Number : 0439B

MetalNRG PLC

28 September 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.

FOR IMMEDIATE RELEASE

28 September 2022

MetalNRG plc

Summary Judgement Decision made in favour of the Company

MetalNRG plc ("the Company") is pleased to announce that, in its continuing civil legal proceedings in the English High Court against Brit Energy Holdings LLP (the "LLP"); Mr Pierpoalo Rocco and BritNRG Limited (the "Joint Venture Company"), the Company's 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 has been granted. An application by the LLP and the Joint Venture Company for leave to appeal and an application by Mr Rocco, the LLP and the Joint Venture Company for a stay of execution were dismissed at the same hearing.

Further information about the decision will follow when the formal order is made.

-Ends-

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] 
                                 ---------------------- 
 

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September 28, 2022 10:04 ET (14:04 GMT)