REG - Barryroe Offshore - Scheme of Arrangement and Cancellation of Trading
03/11/2023 16:00
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RNS Number : 3893S Barryroe Offshore Energy PLC 03 November 2023
Barryroe Offshore Energy PLC (in Examination under Part 10 of the Companies
Act, 2014)
3 November 2023
High Court Confirms the Scheme of Arrangement
Cancellation of Existing Shares and Cancellation from AIM and Euronext Growth
Markets
As referenced in the announcement of 27 October 2023, this is a further
announcement in relation to Barryroe Offshore Energy Public Limited Company
(in Examination under part 10 of the Companies Act 2014) ("the Company"). By
way of background, on 21 July 2023, a petition was presented to the High Court
in Dublin to place the Company into Examinership. Kieran Wallace of Interpath
Advisory was appointed Examiner of the Company on 31 July 2023 following
confirmation by the High Court.
As required by the Act, the Examiner formulated proposals for a Scheme of
Arrangement ("the Scheme") for the Company ("the Proposals"), full details of
which are available at www.barryroeoffshoreenergy.com
(http://www.barryroeoffshoreenergy.com) .
The Proposals have today been approved by the High Court which has set 8
November 2023 as the Effective Date for their implementation. Accordingly the
Scheme is now binding on the shareholders and creditors of the Company.
On 8 November 2023 the interest of the shareholders in the total issued share
capital of the Company will be eliminated. The shareholders shall receive no
distribution on account of their shares and the existing shares and all and
any rights attaching or relating thereto will be cancelled. Any rights and /
or entitlements of the shareholders as members of the Company pursuant to the
articles of association of the Company or any other document, or otherwise,
shall cease as of 8 November 2023.
At 7am on 9 November 2023 the admission to trading on AIM and Euronext Growth
will be cancelled.
Ends
INVESTOR ENQUIRIES:
Barryroe Offshore Energy PLC (in Examination)
investors@barryroeoffshoreenergy.com
Alan Curran, Chief Executive
J & E Davy
Tel: +353 1 679
6363
Anthony Farrell
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