Cindrigo Share Discussion Threads

[tomboyb] 21/3/2022 07:15

Cindrigo Holdings Limited Cindrigo to Acquire 100% of Energy Co-invest
21/03/2022 7:00am
UK Regulatory (RNS & others)

Cindrigo (LSE:CINH)
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Monday 21 March 2022

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RNS Number : 3639F

Cindrigo Holdings Limited

21 March 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

21 March 2022

Cindrigo Holdings Limited

("Cindrigo" or the "Company")

Cindrigo to Acquire 100% of Energy Co-invest Global Corp

Cindrigo is pleased to announce that, in line with its strategy to broaden its business into new renewable energy sectors and geographies, it has exercised the option agreement entered into, and as announced on 30 November 2021 (the 'Option Agreement'), to acquire the entire issued share capital of Energy Co-invest Global Corp ('ECG') (the 'Acquisition'). ECG is an established international energy developer with interests in a broad base of projects within the renewable energy sector, particularly the geothermal energy sector. The Acquisition will give the Company an immediate position in the geothermal energy sector and a strong platform for future growth, in line with its strategy as a clean baseload power developer.

Highlights

-- Acquisition of 100% of ECG positions Cindrigo as a significant renewable energy provider, primarily focussed on geothermal assets

-- Geothermal is classed as 'Green Energy' and commands premium power prices due to its decarbonising impacts, grid security and strong demand; with yearly global market growth of 5-9%, the market for geothermal power is expected reach US$7-9 billion by 2026

-- Chief amongst ECG's active projects are three geothermal licence blocks in Croatia:
o Each have planned capacity of 20MW with potential expansion on site and additional blocks for a target 100 MW

o Each project is anticipated to annually produce an EBITDA of GBP12 million, with potential dividend streams to accrue to project owners, including ECG and/or the Company directly

o First operational geothermal plant targeted for next year

o Acquisition brings a short-term debt related to these projects of GBP1million, with maturity 30 April 2022

-- ECG is also the largest shareholder of GEG ehf., a geothermal Engineering, Procurement and Construction (EPC) contractor and project owner with an established portfolio of assets

-- Targeting additional expansion opportunities, primarily focussed on Central Europe, with a first round of projects identified in Croatia and Hungary

-- Aiming to have contracts in place for geothermal power plant projects with up to 200 MW of installed capacity within a year, up to 450 MW within three years and 1000 MW by 2030

-- Ability to achieve these targets will depend on the raising of debt and equity finance, with the financing for each power plant project to primarily be sought on a project-finance basis

Lars Guldstrand, Cindrigo CEO, commented "I am thrilled that we have completed the acquisition of ECG, which gives us a solid platform and a basis for further development in the geothermal energy sector.

With pressures on clean energy supplies globally and power prices forecast to remain high, geothermal energy is expected to contribute significantly to increased clean, domestic decarbonised electricity resources as a unique green baseload power".

"Alongside ECG's established portfolio, there is a plethora of countries in our sights which have plentiful, yet underdeveloped, geothermal resources and we aim to become a formidable player in this exciting clean energy space, aiming to deliver 1000MW of installed capacity by 2030. The market fundamentals are ripe for major geothermal expansion, which essentially harnesses the earth's natural heat to create energy, in the race to net zero and the push for national energy security. I am excited for the road ahead".

[luckyabbeygale] 21/3/2022 02:39

Should of sold when this was CHAL.

[mustafa15a] 07/3/2022 07:38

Ouchie news, i wonder what the new listing price is gonna be

[henke_a] 28/2/2022 13:32

hxxps://www.cindrigo.com/wp-content/uploads/2022/02/cinh_response_to_escalation_in_ukraine_24.02.22.pdf

Anyone here with more info than what was posted on their website last week?

[mustafa15a] 03/2/2022 07:37

2.66 pounds

[henke_a] 02/2/2022 21:53

@Mustafa15a, what is the confirmed price per share?

[mustafa15a] 02/2/2022 09:59

Price is confirmed for each share, I have had a conversation with leadership team and they confirmed that the process to relist is ongoing however they made it clear that they didn't want to relist in January as the market is usually depressed.....so getting relisted could be anytime from now.

[mustafa15a] 19/1/2022 11:00

Just noticed on thier website.The issued share capital of the Company following completion of the Reverse Takeover is 142,202,476 ordinary shares of £2.667609 each.

[mustafa15a] 06/12/2021 16:24

That would be the dream I was a massive Chal holder, I heard numbers between 10p and 3 pounds.....who knows...

[luckyabbeygale] 03/12/2021 09:42

I used to hold these so just wondering what exactly past shareholders are getting.

[luckyabbeygale] 03/12/2021 09:12

Any idea how many bags Challenger holders are going to make?.

[mustafa15a] 23/11/2021 12:24

Any idea what the share price will be? I have heard crazy talk from 10p to £3

[tomboyb] 23/11/2021 09:39

Looking forward to it -

Any ideas when the listing will occur? -

[mrweine] 23/11/2021 09:37

According to the latest information, the company will soon be ready for listing on the LSE. This will be very exciting to see what the company will present in connection with the listing. Existing business areas so-called waste to energy and new business areas within environmental energy.

[two_hearts] 21/10/2021 14:50

$4 is cheap,too!DANIR AB paid $6, in July 2019https://www.newsfilecorp.com/release/46545/Danir-AB-Makes-Further-Investments-in-Cindrigo

[henke_a] 15/10/2021 09:35

Where is this information from?

And why is there a valuation set out in USD when the traded stock is supposed to be in GBP whilst turnover is in EUR?

[mrweine] 13/10/2021 11:24

The RTO is closed and the company have a valuation of 4 USD per share, Renewable energy is a dynamic investment field for both yield and value investors and, despite its massive growth over the last decade in Europe and the US, it is still a continuously growing market sector(suggest replacing with ‘it is still a high growth sector’), even more so in China and Japan. The volatility of the stock market, in combination with placement restrictions, is driving long-term money in search of other sources of business. Energy production is, to a great degree, not correlated to other asset classes.