GENERAL: HED: Horizon Engaged in Further Legal Action with Marlborough

28 Jun 2010 2:18 pm

HED 28/06/2010 GENERAL

REL: 1418 HRS Horizon Energy Distribution Limited

GENERAL: HED: Horizon Engaged in Further Legal Action with Marlborough

28 June 2010

HORIZON ENERGY ENGAGED IN FURTHER LEGAL ACTION WITH MARLBOROUGH LINES LIMITED

Horizon Energy advises that Marlborough Lines Limited (MLL) have filed proceedings in the High Court against the Takeovers Panel (First Defendant) and Horizon Energy (Second Defendant). MLL are questioning the jurisdiction of the Takeovers Panel to convene a meeting under Section 32 of the Takeovers Code to rule on the outstanding amounts owing to Horizon Energy as a result of the failed takeover by MLL in September 2009. MLL are challenging the Panel's award of costs as a result of an earlier Section 32 meeting called by MLL, and further challenging the Panel's decision dismissing submissions by MLL at that meeting.

The Company is working with its advisors and will defend the proceedings issued by MLL.

For further enquires please contact:

Mr Rob Tait CHAIRMAN Horizon Energy Distribution Limited 021 812577

Mr Ajay Anand CHIEF EXECUTIVE Horizon Energy Distribution Limited 07 306 2901 027 2727956

END End CA:00196617 For:HED Type:GENERAL Time:2010-06-28:14:18:19

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