REG - Corcel PLC - Board Change & Change of Interest

CorcelAnnouncement

04/11/2024 10:45

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RNS Number : 8243K  Corcel PLC  04 November 2024

Corcel PLC

("Corcel" or the "Company")

Board Change & Change of Interest

 

4 November 2024

Corcel Plc (London AIM: CRCL), the pan Angola-Brazil focused energy company,
announces the resignation of Non-Executive Director Mr. Antoine Karam with
immediate effect.

Corcel's Interim Non-Executive Chairman Andrew Fairclough commented: "On
behalf of the board, I would like to offer thanks to Antoine for all that he
has done for the company, having led the change in strategic direction last
year and for supporting it both financially and enthusiastically throughout
his time on the board as we aim to deliver the value in this business, which
he has always believed in. We wish him well in his future endeavours and,
furthermore, thank him and Extraction on their promise of ongoing support."

Further to the "TR-1: Notification of major holdings" announced this morning,
the direct holding of Extraction SRL ("EXT")  has decreased to 4% as at 28
October 2024. Mr. Antoine Karam remains a 45% shareholder of EXT.

 

The resultant indirect shareholding is as follows:

 

                Ordinary Shares        Total Shares  % of Issued Share Capital  Options      Warrants

                Direct    Indirect
 Antoine Karam  -         67,233,609*  67,233,609    1.80%                      125,962,320  94,996,305

*A total of 149,408,021 shares are held by Extractions Premium & Mining
Ltd.

 

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

0207 220 1666

 

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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