Cash backing of performance guarantees, Croatia
Star Energy completes €5.2 million cash backing of performance guarantees for Croatian exploration licences.
- Cash backing of guarantees €5.2 million (£4.3 million)
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Star Energy announces that it has completed the cash backing of the performance guarantees of €5.2 million, issued by Tokio Marine Europe S.A. in 2023, for licence commitments of its Croatian subsidiary relating to the Sječe and Pčelić exploration licences in Croatia using the proceeds of its Kommunalkredit Austria AG facility. Star Energy's Croatian geothermal interests are within a 51% owned joint venture company, A14 Energy Limited.
The cash backing to Tokio Marine Europe S.A., totals €5.2 million (£4.3 million) and the guarantees have a term of 5 years from 01 November 2023.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.