New Agreement for the Reverse Takeover of Cindrigo Energy Limited
Challenger Acquisitions Limited (LSE: CHAL) is pleased to announce that it has entered into a new arrangement agreement (the ‘New Agreement’) with Cindrigo Energy Limited (‘Cindrigo’) regarding the acquisition of Cindrigo , a group that is pursuing renewable energy projects built on broad Swedish expertise and experience in the waste to energy and biomass energy sector. The New Agreement was required due to the invalidation of settlement agreements reached with existing noteholders as a consequence of the arrangement agreement with Cindrigo announced on 9 March 2020 (the ‘Previous Agreement’). Additionally, since 9 March Cindrigo has resolved to make an open offer (the ‘Open Offer’) to its shareholders and any shares issued pursuant to the Open Offer would not have been covered by the Previous Agreement.
A copy of the announcement can be downloaded HERE
Also available from the London Stock Exchange website HERE