31st Mar 2015 11:25
LONDON (Alliance News) - Ncondezi Energy Ltd on Tuesday said the longstop deal on its agreement with Electricity de Mozambique for the Ncondezi power plant project has been extended.
The company has been seeking an extension to the deadline for certain conditions to be satisfied on the conditional commercial deal between the two related to the power plant, located near Tete in Mozambique.
The extension has been granted, with a longstop date of September 30.
The company also said Chris Schutte has been appointed as its chief operating officer. He is currently a non-executive director at the company.
Shares in Ncondezi were up 5.3% to 2.5 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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