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
October 22, 2004
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 22 October 2004
22 October 2004
British Energy plc
Restructuring update
British Energy is continuing to work hard to implement the Agreed Restructuring
and to finalise and to satisfy the remaining requirements for publication of the
required circulars to bondholders and shareholders and prospectus for British
Energy Group plc and British Energy Holdings plc (the proposed holding companies
of the restructured group).
The Company currently expects to achieve sufficient progress with a view to
posting the circulars and prospectus in November, holding meetings of
bondholders and shareholders in December and seeking Court sanction of the
Creditors' Scheme and Members Scheme and completing the Agreed Restructuring in
late January 2005.
The board will keep under review whether in the circumstances an extension of
the present Restructuring Long Stop Date of 31 January 2005 is appropriate but
no decision has been taken at this time. In addition, any extension would
require the approval of the Secretary of State for Trade and Industry, BNFL and
the requisite majorities of creditors and there can be no assurance that such
approvals will be forthcoming.
The Agreed Restructuring remains subject to a large number of important
conditions and significant uncertainties. If for any reason the Company is
unable to implement the Agreed Restructuring prior to the Restructuring Long
Stop Date, it may be unable to meet its financial obligations as they fall due,
in which case it may have to take appropriate insolvency proceedings. If the
Company were to commence insolvency proceedings, distributions, if any, to
unsecured creditors may represent only a small fraction of their unsecured
liabilities and it is highly unlikely there would be any return to shareholders.
The Company expects to announce later today the results of the requisitioned
extraordinary general meeting to be held at 3.00pm this afternoon.
Contact:
Andrew Dowler 020 7831 3113 (Media Enquiries)
John Searles 01355 26 2202 (Investor Relations)
Find this News Release on our web-site: www.british-energy.com
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: October 22, 2004 BRITISH ENERGY PLC
By:____John Searles____
Name: John Searles
Title: Director - Investor Relations