Barryroe Offshore Energy PLC Scheme of Arrangement and Cancellation of Trading (3893S)
04 11월 2023 - 1:00AM
UK Regulatory
TIDMBEY
RNS Number : 3893S
Barryroe Offshore Energy PLC
03 November 2023
Barryroe Offshore Energy PLC (in Examination under Part 10 of
the Companies Act, 2014)
3 November 2023
High Court Confirms the Scheme of Arrangement
Cancellation of Existing Shares and Cancellation from AIM and
Euronext Growth Markets
As referenced in the announcement of 27 October 2023, this is a
further announcement in relation to Barryroe Offshore Energy Public
Limited Company (in Examination under part 10 of the Companies Act
2014) ("the Company"). By way of background, on 21 July 2023, a
petition was presented to the High Court in Dublin to place the
Company into Examinership. Kieran Wallace of Interpath Advisory was
appointed Examiner of the Company on 31 July 2023 following
confirmation by the High Court.
As required by the Act, the Examiner formulated proposals for a
Scheme of Arrangement ("the Scheme") for the Company ("the
Proposals"), full details of which are available at
www.barryroeoffshoreenergy.com .
The Proposals have today been approved by the High Court which
has set 8 November 2023 as the Effective Date for their
implementation. Accordingly the Scheme is now binding on the
shareholders and creditors of the Company.
On 8 November 2023 the interest of the shareholders in the total
issued share capital of the Company will be eliminated . The
shareholders shall receive no distribution on account of their
shares and the existing shares and all and any rights attaching or
relating thereto will be cancelled. Any rights and / or
entitlements of the shareholders as members of the Company pursuant
to the articles of association of the Company or any other
document, or otherwise, shall cease as of 8 November 2023.
At 7am on 9 November 2023 the admission to trading on AIM and
Euronext Growth will be cancelled.
Ends
INVESTOR ENQUIRIES:
Barryroe Offshore Energy PLC (in Examination)
investors@barryroeoffshoreenergy.com
Alan Curran, Chief Executive
J & E Davy
Tel: +353 1 679 6363
Anthony Farrell
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END
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