Barryroe Offshore Energy PLC (AIM:BEY, OTC:PVDRF) confirmed it has called meetings of shareholders and creditors for 24 October 2023 to consider the proposal for the company’s future.
If approved, the investment proposal and restructuring agreed via ‘examinership’, detailed earlier this month, will come into effect by the end of October.
Existing shareholders would be left with nothing if the proposal is executed.