New City Energy : Shareholder update

NEW CITY ENERGY LIMITED (IN LIQUIDATION) (THE “COMPANY”)

Shareholder update

Further to the announcement dated 20 April 2018 made by the joint voluntary liquidators, Linda Johnson and Robert Kirkby (the “Joint Liquidators”), both of KPMG Channel Islands Limited, please be advised that the Company has now received the tax refund that was owing to it from the Canadian Revenue Agency in the amount of CAD $31,744.12.

The Joint Liquidators are currently in the process of preparing the final distribution to shareholders, which is expected to take place during September 2018. A final announcement will be made to shareholders once the rate per share and the date of the final distribution has been agreed.

Enquiries:

The Liquidators

Linda Johnson and Robert Kirkby

KPMG Channel Islands Limited

P.O. Box 453

St Helier

Jersey, JE4 8WQ

Tel:  [phone]

[e-mail]