Global Energy Development PLC Completion of Foreclosure Process (4123V)

TIDMGED

RNS Number : 4123V

Global Energy Development PLC

30 January 2017

Immediate Release

GLOBAL ENERGY DEVELOPMENT PLC

(the "Company" or "Global")

COMPLETION OF FORECLOSURE PROCESS & TRANSFER OF ASSETS

Global Energy Development PLC (AIM: GED), announces that, further to the announcement of 16 January 2017, the foreclosure process associated with the Transaction B Assets is now complete and the Transaction B Assets have been transferred to Maritime Finance LLC, a vessel-owning company to be acquired pursuant to Transaction B, free from liens and encumbrances.

As such, the remaining conditions precedent for completion of the Transactions are the passing of the Resolution at the General Meeting and Admission.

Enquiries:

Global Energy Development PLC

 
Anna Williams, Director of Strategy   +1 817 424 2424, ext 
  and Business Development                              110 
 awilliams@globalenergyplc.com 
  www.globalenergyplc.com 
 
 
 finnCap LtdChristopher Raggett/Scott Mathieson/Kate 
   Bannatyne (Corporate Finance)              0207 220 0500 
  Emily Morris (Corporate Broking) 
  Abchurch 
   Tim Thompson/Rebecca Clube                 0207 398 7700 
 
  globalenergy@abchurch-group.com

Capitalised terms shall have the same meaning as in the Admission Document posted to shareholders on 16 January 2017 unless the context requires otherwise.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 30, 2017 02:00 ET (07:00 GMT)

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