ECG Econergy Intl

    RNS Number : 6551X
  Econergy International Plc
  26 June 2008
   




    26 June 2008 



       Econergy International PLC ("Econergy" or the "Company")


    Settlement of litigation


    As announced on 6th May 2008, an action was brought by Hydro Partners LLC, ("HP") in the Northern District of Ohio against, inter alia,
the Company's affiliate Econergy Energy Generation Ltd. ("Econergy Energy"). HP was pursuing a claim to compel Econergy Energy to close the
Pipoca stock transaction and seeking, inter alia, specific performance of certain aspects of the share purchase agreement dated 25 January
2007 that has been entered into between, inter alia, Econergy Energy and HP in relation to such transaction. A conditional settlement of
this action has been agreed (the "Settlement").  

    The key terms of the Settlement include a full release of all claims by HP. The Settlement is conditional upon the sale of the Pipoca
project to a third party. Econergy has been informed that HP is in the advanced stages of completing such a transaction.



    =-ENDS-- 


     Contacts: 


    Econergy International PLC 
    Tom Stoner, Chief Executive                                            Tel: +1 303 473 9007 


    Pelham Public Relations 
    Archie Berens                                                                 Tel. +44 (0)20 7743 6679 
       



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