Cadogan Energy Solutions Plc - Settlement Agreement with Proger
December 13 2024 - 2:00AM
UK Regulatory
Cadogan Energy Solutions Plc - Settlement
Agreement with Proger
PR Newswire
LONDON, United Kingdom, December 13
Settlement Agreement with Proger
Cadogan Energy Solutions Plc
("Cadogan" or the
"Company")
Proger Management & Partners s.r.l., Proger Ingegneria
s.r.l., Ma.Lo. s.r.l., and TIFS Partecipazioni
s.r.l., and Cadogan Petroleum
Holdings B.V. (Cadogan B.V.), a wholly owned subsidiary of the
Company, have signed a settlement agreement concluding all
litigation activity resulting from the Loan Agreement and Call
Option Agreement signed by the parties the 25th February 2019.
Cadogan will receive before the 31st January 2025, an amount of € 10,000,000.00
(ten million euros) with payment to
be made in a single instalment. Once this amount has been received,
Cadogan will exit from the above mentioned contracts, will end all
the litigations procedures, and the pledge contract over the
corresponding shares in Proger Ingegneria, signed the
21st
March 2019, will be considered
dissolved.
About
Cadogan Energy Solutions is an
independent, energy company, which operates an exploration and
production license in Western
Ukraine, conducts gas trading operations, and provides
services to E&P companies. Cadogan is currently developing
several power generation projects in Western Ukraine to be operational in 2025. The
aim of the Company is to be a diversified energy group making
investments offering energy solutions and alternative services with
a lower environmental impact.
For further information, please
contact:
Cadogan Energy Solutions plc
Fady Khallouf Chief
Executive Officer f.khallouf@cadogan-es.com
Ben Harber Company
Secretary +44 0207
264 4366
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