Business
Annual Financial Report & Danir AB Finance
Annual Financial Report & Danir AB Finance.
About this update from Cindrigo Holdings Limited
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISRIBUTION DIRECTLY OR INDIRECTLY WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN\n10 July 2023\n \nCindrigo Holdings Limited\n(\"Cindrigo \" or the \"Company]\n \nFinal Results and Danir AB Finance\n \n2022 Full Year Accounts\nCindrigo Holdings Limited (LSE: CINH) is pleased to announce that its audited accounts for the year ended 31 December 2022 have been approved and extracts are attached to this announcement and available in full on the Company's website at www.cindrigo.com. \n \nThe Company apologises for the delay in publishing these accounts which arose as a result of a misunderstanding regarding whether or not the Company was a Public Interest Entity. This misunderstanding has been resolved with the assistance of the Financial Reporting Council in the UK and the Regulator in Guernsey where the Company is incorporated.\n \n£1 million Convertible Loan\nCindrigo is also pleased to announce that it has entered into an agreement with its largest shareholder, Danir AB (\"Danir\"), to invest a further £1,000,000 in the Company to provide additional working capital for the continuing development of its geothermal power plant in Northern Croatia.\n \nThe investment is by way of a four-year Convertible Loan Note (\"CLN\") and attracts a fee equating to annual compound interest at a rate of 12 per cent per annum. The fee will be paid on completion of the loan. The Company has created and issued to Danir £1,573,519 interest free unsecured CLNs. The CLN is convertible into ordinary shares of the Company at a fixed price of £0.70 per share.\n \nThe CLN should enable the Company to provide a clear working capital statement in the Prospectus that it is preparing to support its application to relist its enlarged share capital of the Company on the Main Market of the London Stock Exchange.\n \nA further announcement on the relisting will be made in due course.\n \n** ENDS**\nFor more information please contact\nCindrigo Holdings Limited\nLars Guldstrand (CEO) ...