MNRG Metalnrg Plc

TIDMMNRG

RNS Number : 1928Y

MetalNRG PLC

03 May 2023

3 May 2023

MetalNRG plc

Payment received from court

MetalNRG plc ("MetalNRG" or the "Company") announces that funds of GBP545,000 have now been received from court in settlement of the principal amount due back from BritNRG Ltd and Brit Energy Holdings LLP.

Following the rejection by the High Court in London, for the defendants to appeal summary judgement, they were ordered to pay MetalNRG the sum of GBP1,019,999, plus costs, plus appeal costs and interest. To date, the Company confirms that it has received the principal amount, the appeal costs as ordered by the judge and the parties are seeking agreement on the main costs while the Company awaits payment of interest on the principal amount due.

Rolf Gerritsen commented:

"With the final tranche of money now being returned to the Company and the successful judgement in Scotland we can begin to see the end of the legal issues we have faced and really start focusing on what is most important to us, and that is driving the Company forward".

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 
                                 ---------------------- 
 

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May 03, 2023 02:00 ET (06:00 GMT)

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