8th Jun 2015 17:01
LONDON (Alliance News) - React Energy PLC Monday said the examiner appointed to the company is still conducting a review of its affairs and has formulated proposals for a scheme of arrangement.
The proposals will be presented to shareholders and creditors at meetings on Wednesday in Ireland.
The proposals will then be presented to the High Court in Ireland.
In addition, the company said it has signed a conditional facility letter with a third party investor for up to GBP900,000.
The drawdown of that facility is subject to certain conditions, including the approval of the scheme of arrangement by shareholders, creditors and the High Court.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
REAC.L