Acquisition of 90% of the issued share capital of EES Dravacel energetika d.o.o. for Development of 20MW Geothermal Power Plant in Croatia
Cindrigo is pleased to announce that as part of its ongoing expansion strategy its wholly owned subsidiary, Cindrigo Geothermal Limited, has entered into a Share Purchase Agreement to acquire 90% of the issued share capital of EES Dravacel energetika d.o.o.(‘Dravacel’), a Croatian incorporated company, which holds a geothermal exploration licence in respect of 57,926 m2 in Slatina, north Croatia (‘CCP Slatina’ or the ‘Project’), prospective for geothermal development (the ‘Acquisition’). Dravacel has prepared formal requests for all permits necessary to obtain the right to implement a well-defined drilling programme to access the geothermal heat resource and the necessary permit is anticipated to be issued shortly.
Please read the full Notice which can be downloaded HERE
Also available from the London Stock Exchange website HERE