REG - GRIT Investment Tst. - Completion of CVA

Grit Investment TrustAnnouncement

25/05/2023 13:45

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RNS Number : 6916A  GRIT Investment Trust PLC  25 May 2023

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                   25 May 2023

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25 May 2023

GRIT Investment Trust plc

("GRIT" or "the Company")

Announcement of the completion of CVA

GRIT Investment Trust Plc (LSE:GRIT) is pleased to announce that the Company
Voluntary Arrangement ("CVA") approved by creditors on the 21st December 2020
was successfully completed on the 18th May 2023 following approval of the
Company's proposed variation to creditors to bring the CVA to an early
conclusion.

The CVA creditors received a total of 83.06p in the £1, which favourably
compares to the 20p in the £1 in the original CVA proposals approved by
creditors. The CVA was a composition in full and final settlement of the
Company's debts as at the date of approval, 21st December 2020. The CVA
creditors have accepted this payment in full and final settlement and cannot
pursue the Company for any balance due to them in respect of those debts
following the successful completion of the CVA.

Having completed the CVA, the Board are now looking forward to the future,
free from its historic debts and will continue to seek new opportunities for
the Company.

 

 

Enquiries:

GRIT Investment Trust plc

 

Richard Lockwood

Chairman

 

Tel: +44 (0) 20 3198 2554

Peterhouse Capital Limited (Broker)

Lucy Williams/Duncan Vasey

Tel: +44 (0)20 7469 0930

 

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