REG - Hawkwing PLC - Joint Administrators’ Statement of Proposals

HawkwingAnnouncement

06/04/2023 07:00

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RNS Number : 5572V  Hawkwing PLC  06 April 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED
IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR

 

6 APRIL 2023

 

 

 

Hawkwing Plc (In Administration)

 

(the "Company")

 

Joint Administrators' Statement of Proposals

 

The Company previously announced that on 10 February 2023 the Insolvency and
Companies Court of the Chancery Division of the High Court of Justice ordered
(amongst other things) that Sarah Rayment and Robert Armstrong each of Kroll
Advisory Limited at The Shard, 32 London Bridge St, London SE1 9SG, be
appointed as joint administrators of the Company (the "Joint Administrators").

On 5 April 2023, the Joint Administrators issued their Statement of Proposals
setting out the circumstances leading up to their appointment, their strategy
for achieving the purpose of the administration and other important
information including the proposed basis of the Joint Administrators'
remuneration.

The Statement of Proposals is available to view and download from the Joint
Administrators' online Portal at www.ips-docs.com (http://www.ips-docs.com)
.  Details of the Case Code and Unique ID required to access the Portal were
provided in the initial letter to creditors, and in particular to the Nominees
on behalf of the bondholders. Should any creditor wish to obtain a copy of the
Joint Administrators' proposals and have been unable to access via their
appointed Nominee, please contact Samir.akram@kroll.com.

The Joint Administrators are seeking approval of their Statement of Proposals
by a Deemed Consent Decision Procedure.  The decision date is 27 April
2023.  Further information is contained at section 9.1 of the Statement of
Proposals.

The Joint Administrators will make a further update to the market in due
course.

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