New City Energy Ltd - Shareholder update

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

Shareholder update

Further to the announcement dated 28 March 2017 made by the joint voluntary liquidators, Linda Johnson and Robert Kirkby, both of KPMG Channel Islands Limited, and the first interim liquidation distribution dated 4 April 2017, please be advised that the Company is currently awaiting receipt of a tax refund owing to the Company from the Canadian Revenue Agency (the “Tax Refund”) before making a final liquidation distribution to shareholders (the “Final Distribution”).

Following receipt of the Tax Refund a further announcement will be made to shareholders advising of the details of the Final Distribution.  We anticipate that this will be in early Q3 2018.

Enquiries:

The Liquidators

Linda Johnson and Robert Kirkby

KPMG Channel Islands Limited

P.O. Box 453

St Helier

Jersey, JE4 8WQ

Tel:  01534 888891

[email protected]