FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
January 14, 2005
BRITISH ENERGY PLC
(Registrant's name)
3 Redwood Crescent
Peel Park
East Kilbride G74 5PR
Scotland
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F..X.. Form 40-F.....
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ..... No ..X..
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
Exhibit Index
The following document (bearing the exhibit number listed below) is furnished
herewith and is made a part of this Report pursuant to the General Instructions
for Form 6-K:
Exhibit Description
No. 1 RNS Announcement, re: Restructuring Update dated 14 January 2005
NOT FOR DISTRIBUTION INTO AUSTRALIA, CANADA, GERMANY, ITALY, JAPAN AND THE
UNITED STATES
14 January 2005
British Energy plc
Restructuring Update
Agreed Restructuring Effective
British Energy announces that today the Court approved the Creditors' Scheme and
the Members' Scheme and, following satisfaction of all the other conditions, the
Company is today proceeding to complete the Agreed Restructuring. This follows
meetings of shareholders and creditors held on 22 December 2004, at which the
requisite majorities of creditors and shareholders approved the Creditors and
Members' Scheme.
A further announcement on the expected date of admission of the New Shares and
Warrants of British Energy Group plc and New Bonds of British Energy Holdings
plc to the Official List of the UKLA and to trading on the London Stock Exchange
will be made later today.
Adrian Montague, Chairman of British Energy, said:
"Court approval has enabled us to implement the restructuring plan agreed two
years ago. The support shown by all of our stakeholders, notably shareholders,
creditors and the Government has allowed us to successfully complete one of the
most complicated Restructurings in UK corporate history. I am also hugely
grateful to our staff who have shown extraordinary determination to safeguard
British Energy's future."
Mike Alexander, Chief Executive of British Energy, said:
"The restructuring has been successfully implemented but our job is far from
over. The new management team has started to address the past under-investment
and unacceptable output. We must put that right but it will not be easy and it
will take time. British Energy's staff have made a massive effort to deliver the
restructuring and are hugely enthusiastic about the new opportunity to develop
the company again. Together, we are determined to focus all of our energies on
making British Energy an efficient and competitive player in the UK electricity
market."
This announcement is not an offer of securities for sale in the United States,
and the New Shares and Warrants may not be offered or sold in the United States
absent registration or an exemption from registration. Any public offering of
securities to be made in the United States will be made by means of a prospectus
that may be obtained from the Company and that will contain detailed information
about the Company and management, as well as financial statements.
Contact:
Andrew Dowler 020 7831 3113 (Media Enquiries)
John Searles 01506 408 715 (Investor Relations)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: January 14, 2005 BRITISH ENERGY PLC
By:____John Searles____
Name: John Searles
Title: Director - Investor Relations