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MetalNRG shares surge on favourable ruling at English High Court

28th Sep 2022 16:09

(Alliance News) - MetalNRG PLC shares surged on Wednesday following the English High Court ruling in favour of the company in a GBP1.0 million case.

Shares in the London-based investor in natural resources and energy were up 36% to 0.14 pence each in London on Wednesday afternoon.

MetalNRG said the English High Court has ruled against Brit Energy Holdings LLP, Pierpoalo Rocco and BritNRG Ltd.

The civil legal proceedings were for a declaration and the recovery of money paid to the LLP in 2021, for a total of GBP1.0 million plus interests and costs.

MetalNRG added that an application by the LLP and joint venture company for leave to appeal, as well as an application for a stay of execution, were dismissed in the same hearing.

By Sophie Rose; [email protected]

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