31st Mar 2005 09:14
Scottish & Southern Energy PLC31 March 2005 SCOTTISH AND SOUTHERN ENERGY PLC FIRST TXU ADMINISTRATION DISTRIBUTION RECEIVED Scottish and Southern Energy plc ("SSE") announced on 3 December 2004 that itssubsidiary, SSE Energy Supply Ltd, had agreed a claim of £294.2m with theadministrators of TXU Europe Group plc and certain of its subsidiaries inrespect of a 14-year contract originally entered into in 1997. It said that it expected that more than 75% of its agreed claim would besettled, subject to creditor approval of a company voluntary agreement (CVA),and that it was anticipated that the first distribution to creditors would bemade on or around 31 March 2005, with other distributions being made in theautumn of 2005 and the spring of 2006. The CVA was approved on 28 January 2005 and SSE has now received the first netdistribution of £159.1m from the administrator. Enquiries to:Scottish and Southern EnergyAlan Young, Director of Corporate Communications0870 900 0410Denis Kerby, Investor and Media Relations Manager0870 900 0410 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SSE