Cindrigo Holdings (LSE:CINH) advanced 12.2%, to 5.5p. after it revealed that its investors said the banking arrangements for the strategic investment and the Fuelwood joint venture had been finalised and the company can expect to receive the investment funds shortly.
The development follows the group's announcement on 29 April and relates to the funding package underpinning the strategic investment and associated joint venture.
Cindrigo is a sustainable energy developer with an integrated biomass operation in Finland and three geothermal energy licences in Germany.
The company said it will provide a further update in due course following receipt of funds and completion of the associated share issue and related transaction matters.
