NWR New World Res A

TIDMNWR

RNS Number : 3726N

New World Resources Plc

25 October 2016

Amsterdam, 25 October 2016

Notice of Creditors' Meeting

As previously announced on 17 October 2016, a General Meeting of shareholders of New World Resources Plc ("NWR") will be held on 3 November 2016 at which the shareholders of NWR will vote on whether to place NWR into voluntary liquidation. It was also announced that a meeting of NWR's creditors will be convened on the same day to approve, amongst other things, the appointment of the liquidators should the shareholders resolve to place NWR into liquidation.

Creditors' Meeting

Further to the foregoing, NWR announces today that notice of the Creditors' Meeting has been sent to NWR's creditors' and advertised in the London Gazette pursuant to section 98 of the Insolvency Act 1986.

The meeting of creditors' of NWR will be held at NWR's corporate office at Herengracht 448, 1017 CA Amsterdam, the Netherlands on 3 November 2016 at 12 p.m. (CET) for the purposes referred to in sections 99, 100 and 101 of the Insolvency Act 1986.

The agenda of the meeting of creditors' of NWR will be as follows:

 
      1. To consider a special resolution for winding up passed by a General Meeting of NWR on 3 
       November 2016. 
      2. To consider a statement of affairs of NWR together with a list of creditors of NWR and 
       the estimated amount of their claims. 
      3. To ratify the appointment of Mark Skelton, Geoffrey Bouchier and Paul Williams of Duff 
       & Phelps Ltd., Rembrandt Tower, Amstelplein 1, Amsterdam, the Netherlands 1096HA as joint 
       liquidators of NWR for the purpose of winding up the affairs and distributing the assets of 
       NWR (the "Liquidators"). 
      4. If creditors think fit, appoint a liquidation committee. 
 

Convertible Notes

As previously announced on 16 May and 17 October 2016, and in light of the upcoming General Meeting at which the shareholders of NWR will vote on whether to resolve to place NWR into liquidation, holders of the Convertible Notes may wish to consult with their advisers to determine their position regarding conversion of their Convertible Notes into NWR shares and the timing of any such conversion. In this regard, NWR notes that the proposed Liquidators have indicated to NWR that, if they are appointed, it is their current intention to honour any request for conversion of the Convertible Notes that is received whilst NWR is in liquidation.

   -    End - 

Investor and Media Contact:

   Email:             info@nwrgroup.eu 
   Website:         www.newworldresources.eu 

About NWR Plc:

New World Resources Plc is a Central European hard coal producer. NWR produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, the largest hard coal mining company in the Czech Republic.

This information is provided by RNS

The company news service from the London Stock Exchange

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