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Proger’s capital increase takes shape

The first €13 million has been paid as part of the new business plan.

Rome – Proger Managers & Partners (PM&P) has subscribed and paid in full (€ 13,385,000) the capital increase of the subsidiary Proger Ingegneria s.r.l., ensuring that the latter may in turn subscribe and pay its share of the approved capital increase in Proger s.p.a., of which it holds 67.9%.

Proger will use the capital to finance its business plan, announced last autumn, with the aim of becoming more and more an international “demand generator” able to develop innovative skills that, combined with appropriate financial and human resources, allow it to invest in “new projects” in the identified country targets, building and promoting ambitious business initiatives, in particular in the Green Energy, Security and Healthcare sectors, focusing on a strong cross-cutting technological component, in line with the most advanced methodological approaches.

The financial transaction was carried out thanks to a strategic agreement between PM & P – of which Proger’s Managing Directors, Umberto Sgambati and Marco Lombardi, are the main shareholders – and Cadogan Petroleum Holdings BV, 100% controlled by Cadogan Petroleum PLC, a company listed on the London Stock Exchange.

The industrial partnership between Proger and Cadogan will be strengthened by the presence of two figures, including the President, appointed by Cadogan to the Board of Directors of Proger, composed of seven members.

“This agreement” declares the CEO, Marco Lombardi, “offers both companies the advantage of potential operational synergies for the development of their respective activities and marks a further step forward in Proger’s international development path which in recent years has recorded a steady growth in value of production (€ 124 million in 2017 ) confirming itself today as the non-captive number 1 engineering company in Italy”.