British Energy are close to restructuring deal
so BUY BUY BUY BUY BUY BUY

Well said! How's that for inside information.....

BRITISH ENERGY PLC - STATEMENT BY THE SECRETARY OF STATE FOR TRADE AND INDUSTRY


The Company wishes to draw your attention to the written statement to Parliament
by the Secretary of State for Trade and Industry made earlier today, which is
detailed below:

'British Energy Credit Facility Agreement

On 7 March, I informed the House that British Energy had repaid to my
Department all outstanding amounts under the credit facility. On a
contingency basis I decided, with the company's agreement, to continue
the facility, with the maximum amount available being reduced from 650
million to 200 million.

British Energy has subsequently utilised the facility in August. As the
House was in recess at the time the drawing was made, my Department
wrote to the Chairs of the Committee of Public Accounts and the Trade
and Industry Committee to inform them of the fact. At the beginning of
September, British Energy's outstanding drawdown on the facility was
13.1 million.

The controls governing drawings on the facility by British Energy remain
in place. As with the company's previous drawings, we expect further
drawings to be repaid in full, including interest, as soon as the
company is in a position to do so. British Energy's obligations under
the credit facility agreement are secured by charges over the British
Energy Group's assets. This security is in the nature of a senior charge
which would take priority over the claims of other creditors should the
company become insolvent.

British Energy continues to work on implementing its restructuring plan.
It announced on 11 September that it had agreed the sale of its stake in
its US joint venture, AmerGen, subject to certain regulatory and other
conditions. But there remain significant milestones ahead. Successful
implementation of the restructuring plan will require a number of
further conditions to be met, including satisfactory formal commitments
from creditors to support the plan, completion of the AmerGen sale and
receipt of state aids approval from the European Commission. I will also
need to be satisfied that implementation of the restructuring will lead
to a viable restructured entity that will not be dependent on Government
support in the long term. If these conditions cannot be met, the
Government remains well prepared for administration'.

Rasool, I feel that most of your postings are ramping!! This is not what these threads are intended.

The word on the street is the company are close to going bust.

People take a very dim view of ramping.........

The chart looks encouraging.

The country cannot afford for BGY to go bust;

The GBP cannot afford it
The CO2 economy cannot afford it.

There has to be a BGY company, the only question is who owns it!

Fly by Night

Red