REG - Corcel PLC - Appointment of Joint Broker - TVR

CorcelAnnouncement

29/10/2024 16:00

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RNS Number : 1036K  Corcel PLC  29 October 2024

Corcel PLC

("Corcel" or the "Company")

Appointment of Joint Broker - Closing of Placing - TVR

 

29 October 2024

Corcel Plc (London AIM: CRCL), the pan Angola-Brazil focused energy company,
is pleased to announce that it has appointed Auctus Advisors LLP ("Auctus") to
act as joint broker to the Company with immediate effect and also provides an
update on its total voting rights.

 

Corcel CEO Scott Gilbert commented: "We are excited to be working with the
team at Auctus Advisors, who have extensive experience in the energy sector.
We are also very pleased to have completed the placing announced on 24
September 2024 and we are grateful to our current and new shareholders who
have demonstrated solid ongoing support."

 

Joint Broker Appointment:

The Company has appointed Auctus as joint broker to the Company with immediate
effect.  Actus is a leading independent equity capital markets and advisory
business with a particular focus on and deep experience in the energy
sector.

Placing Update:

The Company further confirms that all GM resolutions have passed and that
Tranche II of the fundraising has now completed.  Accordingly, a further
640,000,000 new ordinary shares will now be issued ("Further Placing
Shares").

In addition, the Company has agreed to settle certain fees due to professional
advisors in the amount of £54,250 (including appliable VAT) through the issue
of an additional 54,250,000 ordinary shares ("Fee Shares").

Total Voting Rights:

Application will be made for the 640,000,000 Further Placing Shares and
54,250,000 Fee Shares to be admitted ("Admission") to trading on AIM and it is
expected that Admission will occur on or around 30 October 2024.

Following Admission, the Company confirms that its total issued share capital
will consist of 3,732,550,515 Ordinary Shares, with one voting right per
Ordinary Share. The Company does not hold any Ordinary Shares in treasury.
This figure may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change in their interest in, the share capital of
the Company pursuant to the FCA's Disclosure Guidance and Transparency Rules.

 

For further information, please contact:

 

Scott Gilbert
                                         Corcel Plc CEO

Development@Corcelplc.com (mailto:Development@Corcelplc.com)
 

 

James Joyce / James Bavister /Andrew de Andrade
Zeus Capital  NOMAD & Broker

020 3829 5000

 

Jonathan Wright / Rupert Holdsworth Hunt
            Auctus Advisors  Joint Broker

07711 627449

 
 

Patrick d'Ancona
                                   Vigo Communications IR

0207 3900 230
 

 

About Corcel

 

Corcel has a notable oil and gas portfolio in onshore Angola that includes
brownfield development opportunities and significant exploration upside.

 

Corcel's Angola portfolio consists of interests in three licences:

·    KON - 16 Operated - 55% working interest - 49.5% net to CRCL

·    KON - 11 Non-Operated - 20% working interest - 18% net to CRCL

·    KON - 12 Non-Operated - 25% working interest - 22.5% net to CRCL

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014 which is part of UK law by virtue of the European Union (withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

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