THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 28 February 2022

 MetalNRG plc

Update on legal proceedings against Brit Energy Holdings LLP, Pierpaolo Rocco and BritNRG Limited

MetalNRG plc ("MNRG" or the "Company") announces that further to the announcement made on 31 January 2022 that it had filed and served civil legal proceedings in the English High Court against Brit ENERGY Holdings LLP (the "LLP"), Pierpaolo Rocco ("Mr Rocco") and BritNRG Limited (the "Joint Venture Company") (together the "Defendants") for, inter alia, a declaration and the recovery from the Defendants of monies paid to the LLP in 2021, it has, with disappointment, agreed to a further request for extensions of time by the Defendants for the filing of defences to 18 March 2022 (the maximum time permitted without the consent of the Court).

The Company has granted the extensions with certain conditions attached, in the light of the fact that any hearing at which opposition could be argued would inevitably only take place after the date of the requested extension. Accordingly, given the Company is primarily focussed on receipt of the actual defences, in order to assess their content, consent was granted by agreement. 

The Company will provide further updates on these issues and the legal proceedings as appropriate and once the defences have been received.

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

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