THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR

19 MAY 2023

Hawkwing Plc (In Administration)

(the "Company")

Joint Administrators' Application to Court for Directions following Rejection of Statement of Proposals

On 6 April 2023 the Company announced that the Joint Administrators issued their Statement of Proposals on 5 April 2023 and would seek approval from creditors.

The Joint Administrators held a virtual meeting of creditors on 12 May 2023 to allow creditors to consider and vote upon the Statement of Proposals.

At the virtual meeting the creditors rejected the Statement of Proposals. Accordingly on 19 May 2023 the Joint Administrators applied to the Insolvency and Companies Court of the Chancery Division of the High Court of Justice (CR-2022-004652) as required by paragraph 55 of Schedule 1B of the Insolvency Act 1985 seeking directions.

The hearing of the Joint Administrators' application is scheduled to be heard on 5 June 2023 at 10:30am.

The application can be obtained from the Joint Administrators' online Portal at www.ips-docs.com.  Details of the Case Code and Unique ID required to access the Portal were provided in the initial letter to creditors, and in particular to the Nominees on behalf of the bondholders. Should any creditor wish to obtain a copy of these documents and have been unable to access via their appointed Nominee, please contact Samir.akram@kroll.com. 

The Joint Administrators will make a further update to the market in due course.