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Curzon Energy Plc announced on 3 June 2024 that its proposed restructuring, previously announced on 1 May 2024, will not proceed as it reached agreement with all but one of its major creditors. Antony Batty of Antony Batty & Company LLP has been appointed to assist the Board in a Company Voluntary Arrangement (CVA). The Company confirmed it will be put into liquidation if the CVA is not approved by shareholders or creditors.
| Date | 3 Jun 2024 |
| Time | 11:46:14 |
| Category | Corporate updates |
| ID | 8798Q |
3 June 2024
Curzon Energy Plc
("Curzon" or the "Company")
Corporate Update
Further to the announcement on 1 May 2024, regarding the proposed restructuring, the Company was able to reach an agreement with all but one of the Company's major creditors and therefore, will not be able to proceed with the current proposal as the proposal required all major creditors to agree.
Accordingly, the Company announces that Antony Batty of Antony Batty & Company LLP ("Antony Batty" or the "Practitioner") has been appointed to assist the Board in a Company Voluntary Arrangement (the "CVA").
Antony Batty is now evaluating the Company's position to achieve the best possible recovery for the Company's creditors. Discussions between the Practitioner, the Directors and key stakeholders are underway, and the Directors of Curzon will continue to look for ways to extract value and seek out options for the future of the Company.
In the event that the CVA is not approved by either shareholders or creditors, the Company will be put into liquidation.
For further information please contact:
Curzon Energy Plc
Scott Kaintz
Development@curzonenergy.com
Peterhouse Capital Limited (Corporate Broker)
020 7496 0936 / 020 7220 9797
www.curzonenergy.com