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New City Energy Ltd : Recommended Proposals for the Summary Winding-Up of the Company and Notice of Extraordinary General Meeting

02/17/17

17 February 2017

New City Energy Limited ("NCE" or the "Company")

Recommended Proposals for Summary Winding-Up of the Company and Notice of Extraordinary General Meeting

As previously announced on 14 December 2016 the Board of Directors has decided that it would be in the best interests of Shareholders to propose that the Company be wound up and that the Company's surplus assets (after full provision for liquidation costs) be distributed in cash to Shareholders.

The requisite resolutions will be proposed at an Extraordinary General Meeting of the Company on Tuesday 7 March 2017 at 2 p.m.

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A circular to Shareholders containing details of the proposals and containing the notice of the Extraordinary General Meeting will be posted to Shareholders today and is also attached to this announcement.

Enquiries:

Contact Telephone

Sue Inglis - Cantor Fitzgerald 020 7894 8016

Craig Cleland - New City Investment Managers 020 7201 5368

Lisa Neil - R&H Fund Services (Jersey) Limited 01534 825336

EGM Form of proxy: http://hugin.info/140891/R/2075956/783103.pdf

NCE Winding Up Circular: http://hugin.info/140891/R/2075956/782962.pdf

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: New City Energy Ltd via GlobeNewswire

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Copyright RTT News/dpa-AFX


                                                                                                                        

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