2nd Aug 2005 14:59
Scottish & Southern Energy PLC02 August 2005 SSE RECEIVES SECOND DISTRIBUTION PAYMENT FROM TXU ADMINISTRATOR Scottish and Southern Energy plc ("SSE") has today received a second netdistribution payment of £41.6m from the administrators of TXU Europe Group plcin respect of its agreed claim. SSE announced on 3 December 2004 that its subsidiary, SSE Energy Supply Ltd, hadagreed a claim of £294.2m with the administrators, and certain of itssubsidiaries, in respect of a 14-year contract originally entered into in 1997.Following approval of the company voluntary agreement on 28 January 2005 thefirst net distribution of £159.1m was received on 31 March 2005 from theadministrator. In it's Preliminary results statement in May 2005, SSE said it expected toreceive further distributions of up to £100m and that over 85% of its agreedclaim would be settled. Following this second payment, SSE expects to receivefurther distributions of up to £60m by the spring of next year. Enquiries to: Scottish and Southern EnergyAlan Young, Director of Corporate Communications 0870 900 0410Denis Kerby, Investor and Media Relations Manager 0870 900 0410 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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