Cindrigo Holdings Ltd - Guernsey-based renewable energy company - For the six months ended June 30, reports pretax loss of £970,000, narrowed from £1.1 million a year prior. Says this includes legal, regulatory and public group costs of £132,000 and professional fees of £64,000. Administrative expenses rise to £892,000 from £788,000 the previous year. No revenue is recorded.

Cindrigo says that, due to the conflict in Ukraine, it has concentrated its efforts in the geothermal sector. It has also agreed with its principal shareholder, Danir AB, for a new loan financing facility of £1.0 million, which was paid in April 2023. The loan facility has been provided for the purposes of working capital management.

Looking ahead, Cindrigo is currently preparing to apply for the readmission of enlarged capital to trading on the LSE. Its current priority is to raise and finalise project development funds for the Dravacel/Croatia 1 project, to move the project forward, while also evaluate additional licenses primarily in Europe, to strengthen its portfolio.

Cindrigo’s shares are currently suspended from trading.

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