REG - Cindrigo Hldgs Ltd - Board Changes

Cindrigo HoldingsAnnouncement

25/03/2024 14:30

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RNS Number : 1998I  Cindrigo Holdings Limited  25 March 2024

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25 March 2024

 

Cindrigo Holdings Limited

('Cindrigo' or the 'Company')

 

Board Changes

 

Cindrigo Holdings Ltd. (LSE:CINH) is pleased to announce the appointment of Mr
Johan Glennmo as a Non-Executive Director of the Company with immediate
effect.

 

Mr Glennmo, age 49, has a background in IT and technology consulting and is
currently Chairman of Danir AB, Cindrigo's largest shareholder, and is a
director of a number of Danir AB's investee companies. Mr Glennmo replaces Mr
Jordan Oxley as a Non-Executive Director, who steps down as Director but will
continue to work with Cindrigo as a consultant and advisor to management and
the Board.

 

Jörgen Andersson Chairman of the Board comments: "We are very pleased that
Danir Group Chairman, Johan Glennmo, has accepted the invitation to become a
Non-Executive Director of Cindrigo. I would like to thank Jordan Oxley for his
valuable contribution to the Board during the development of the Company's new
geothermal business structure and look forward to utilising his skills and
services in his continuing work with the Company.

 

**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

 Paul Dulieu

 

 

 

Notes

Cindrigo Group is an active clean baseload power developer engaged in the
renewable energy sector. Its current focus is on the construction of an
initial 20 MW geothermal power plant located in Croatia but a number of other
projects are also underway, primarily in the Pannonian Basin 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 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.

 

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