GRIT Investment Trust PLC Completion of CVA (6916A)
25 Maio 2023 - 9:35AM
UK Regulatory
TIDMGRIT
RNS Number : 6916A
GRIT Investment Trust PLC
25 May 2023
For immediate release 25 May 2023
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25 May 2023
GRIT Investment Trust plc
("GRIT" or "the Company")
Announcement of the completion of CVA
GRIT Investment Trust Plc (LSE:GRIT) is pleased to announce that
the Company Voluntary Arrangement ("CVA") approved by creditors on
the 21st December 2020 was successfully completed on the 18th May
2023 following approval of the Company's proposed variation to
creditors to bring the CVA to an early conclusion.
The CVA creditors received a total of 83.06p in the GBP1, which
favourably compares to the 20p in the GBP1 in the original CVA
proposals approved by creditors. The CVA was a composition in full
and final settlement of the Company's debts as at the date of
approval, 21st December 2020. The CVA creditors have accepted this
payment in full and final settlement and cannot pursue the Company
for any balance due to them in respect of those debts following the
successful completion of the CVA.
Having completed the CVA, the Board are now looking forward to
the future, free from its historic debts and will continue to seek
new opportunities for the Company.
Enquiries:
GRIT Investment Trust plc
Richard Lockwood
Chairman
Tel: +44 (0) 20 3198 2554
Peterhouse Capital Limited (Broker)
Lucy Williams/Duncan Vasey
Tel: +44 (0)20 7469 0930
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May 25, 2023 08:35 ET (12:35 GMT)
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