RNS Number : 8995U
Renova Energy plc
20 May 2008
For immediate release
20 May 2008
Renova Energy plc ("the Company")
Share suspension
Renova Energy plc (RVA: AIM), the ethanol production, distribution and marketing company, has today requested that the trading of its
ordinary shares be suspended with immediate effect.
As previously announced the Group is in ongoing discussions with its Lenders and the creditors of Renova Energy (ID) LLC, the Heyburn
project company, regarding a restructuring of its bank borrowings and other liabilities. In the meantime, the Standstill Agreement with the
Group's Lenders has terminated in accordance with its terms and all bank borrowings remain repayable on demand.
In consultation with its advisors, the Directors consider that the Company's ordinary shares should be suspended from trading pending
further progress with these negotiations.
In the meantime, Renova's marketing and distribution business and the production facility in Torrington, Wyoming, are continuing to
operate normally.
For further information please contact
Renova Energy
Chris Thomas, Chairman +44 207 299 4444
Fanton Chuck, Chief Executive Officer +44 207 299 4444
Raf Alam, Finance Director +44 207 299 4444
Brewin Dolphin
Ken Fleming, Director +44 141 221 7733
Buchanan Communications
Ben Willey +44 207 466 5000
or visit www.renovaenergy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
SRSSELFLSSASESI
|