REG-Cadogan Energy Solutions Plc: Settlement Agreement with Proger

Cadogan Energy SolutionsAnnouncement

13/12/2024 07:15

Settlement Agreement with Proger 

Cadogan Energy Solutions Plc
("Cadogan" or the "Company")

 

 

Proger Management & Partners s.r.l., Proger Ingegneria s.r.l., Ma.Lo. s.r.l.,
and TIFS Partecipazioni s.r.l.,  and Cadogan Petroleum Holdings B.V. (Cadogan
B.V.), a wholly owned subsidiary of the Company, have signed a settlement
agreement concluding all litigation activity resulting from the Loan Agreement
and Call Option Agreement signed by the parties the 25th February 2019.

Cadogan will receive before the 31st January 2025, an amount of €
10,000,000.00 (ten million euros) with payment to be made in a single
instalment. Once this amount has been received, Cadogan will exit from the
above mentioned contracts, will end all the litigations procedures, and the
pledge contract over the corresponding shares in Proger Ingegneria, signed the
21st March 2019, will be considered dissolved.

 

 

About

Cadogan Energy Solutions is an independent, energy company, which operates an
exploration and production license in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies. Cadogan is currently
developing several power generation projects in Western Ukraine to be
operational in 2025. The aim of the Company is to be a diversified energy
group making investments offering energy solutions and alternative services
with a lower environmental impact.

For further information, please contact:

Cadogan Energy Solutions plc 
Fady Khallouf Chief Executive Officer  f.khallouf@cadogan-es.com
Ben Harber  Company Secretary  +44 0207 264 4366

 

 

 



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