REG - Cindrigo Hldgs Ltd - Appointment of Chief Financial Officer

Cindrigo HoldingsAnnouncement

01/11/2023 16:00

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RNS Number : 0916S  Cindrigo Holdings Limited  01 November 2023

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1 November 2023

 

Cindrigo Holdings Limited

('Cindrigo' or the 'Company')

 

Appointment of Chief Financial Officer

 

Cindrigo Holdings Ltd. (LSE:CINH) is pleased to announce the appointment of Mr
Dag Andresen as Chief Financial Officer ("CFO") of the Company with immediate
effect.

 

Mr Andresen moves into the CFO role from his current position as Independent
Director of Cindrigo having served the Cindrigo Group since its establishment.
He is an experienced Group CFO having worked in the position for large energy
companies with broad international operations and financial compliance and
reporting obligations.

 

Mr Andresen served as Deputy Group CEO and Group CFO for Vattenfall one of
Europe's largest energy companies. He has also held the CFO position at Vestas
Wind Systems A/S in Denmark.

 

Mr Andresen has an extensive banking background as previous Head of Nordea
Bank Business Area Transaction and Finance Banking and Group Chief Audit
Executive.

 

Mr Andresen was educated as an Officer with the Royal Norwegian Air Force
serving in the NATO office. He graduated from the Executive
Management/Leadership Program from Harvard Business School & Stanford
University Graduate School of Business.

 

Mr Andresen replaces the Company's current CFO, Simon Fawcett, who has
resigned from his position as a director of the Company with immediate effect.

 

 

Lars Guldstrand, CEO of Cindrigo, said: "I am thrilled to have Dag step into
the CFO role at Cindrigo at a pivotal and exciting time for the Company. I
have worked with Dag for many years now and his experience working in public
companies in the international renewable energy sector will be of huge
advantage to Cindrigo. I would like to take this opportunity to thank Simon
Fawcett for his services to the Company and wish him success with his future
ventures."

 

 **ENDS**

 

For more information please contact:

 Cindrigo Holdings Limited                                         +44 (0) 7408 861 667

 Lars Guldstrand CEO

 Hannam & Partners (Financial Advisor & Corporate Broker)          +44 (0) 20 7907 8500

 Samuel Merlin, Sean Urquhart

 St Brides Partners Ltd (PR)                                       +44 (0) 20 7236 1177

 Catherine Leftley, Paul Dulieu

 

 

 

Notes

 

Cindrigo is an active clean baseload power developer engaged in the renewable
energy sector.  Cindrigo is currently focused on the successful build of its
geothermal power plants in Croatia and in parallel exploring potential new
developments in select markets where Cindrigo has natural strategic partners
primarily in Croatia/Pannonian Basin but also in other parts of Central
Europe.

 

Cindrigo aims to have contracts in place for geothermal power plant projects
with up to 200 MW of contracted capacity within a year, up to 450 MW within
three years and 1000 MW by 2030.  The financing for each power plant project
will be primarily on a structured project finance basis within special purpose
vehicles for each project.

 

Cindrigo is in the process of seeking approval from the FCA for a prospectus
in connection with its proposed readmission to the Official List by way of a
standard listing and to trading on the Main Marlet of the London Stock
Exchange Main List ("LSE").

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