Cindrigo Holdings Ltd - Guernsey-based renewable energy company - Announces that, despite the continued delay in the re-listing process, its Croatian subsidiary EES Dravacel Energetika has broken ground at its Slatina 3 site in northern Croatia and has commenced site work and conductor drilling well pads. The remaining ground works are ongoing, and site handover to the drilling rig operator Crosco are on track to meet the well completion scheduled for April 2024. Explains the recent groundwork has been financed by a further subscription of GBP1.3 million by the company's largest shareholder Danir AB. However, notes that the work has been delayed by the continued delay in the prospectus and eligibility approval process and the proposed application for readmission of its share capital with a standard listing on the Main Market of the London Stock Exchange. Continues to seek approval by the FCA of a prospectus in respect of its proposed application for re-admission to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange which it hopes will lead to readmission to trading. If the application for readmission to trading is successful, the company anticipates that further funding will be made available more quickly.
Current stock price: 0.12 pence
By Jeremy Cutler, Alliance News reporter
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Cindrigo Hldgs (CINH)