MetalNRG PLC - investor in natural resources and energy - Appeal hearing regarding MetalNRG’s claim for the return of £1.0 million paid to Brit Energy Holdings LLP and BritNRG Ltd is held at UK High Court on Friday last week. Says appeal by Brit Energy and BritNRG is rejected and the outstanding £574,000 is now to be paid to MetalNRG, together with interest, appeal costs and legal fees. Notes Brit Energy and BritNRG had lost their case in the first instance and had paid £450,000 of the £1.0 million.
‘We are delighted with this outcome which fully vindicates our approach,’ comments Chief Executive Officer Rolf Gerritsen. ‘Brit Energy Holdings and BritNRG Ltd (of which Mr Rocco is a significant interest holder) have now lost in London’s courts three times, Mr Rocco himself has lost in Scotland, and more importantly there is no further recourse in the London courts on the summary judgment case brought by the company.’
Pierpaolo Rocco joined the MetalNRG board as an executive director late in 2019 and resigned two years later.
Current stock price: 0.072 pence, up 6.1% on Tuesday in London
12-month change: down 62%
Copyright 2023 Alliance News Ltd. All Rights Reserved.
