REG - Corcel PLC - Fundraising Update

CorcelAnnouncement

13/05/2024 16:15

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RNS Number : 2308O  Corcel PLC  13 May 2024

 

Corcel PLC

("Corcel" or the "Company")

Fundraising Update

13 May 2024

Corcel Plc (London AIM: CRCL), the Angolan-focused exploration and
production company, announces an update to the settlement of its previously
announced fundraising.

The Company confirms that, further to the fundraising announced on 15 April
2024, it has received £399,750 in cash to date and accordingly will now issue
79,950,000 of Tranche I shares, including 39,975,000 shares to Corcel
Director, Geraldine Geraldo. In addition, the Company will issue 79,950,000
warrants in respect of Tranche I.

 

The Company also confirms that it expects the balance of the Tranche I funds,
£400,000, and the Tranche II funds, £500,000, to be received in due course,
and will update the market on completion of these tranches of the Placing when
appropriate to do so.

 

Total Voting Rights:

 

Application has been made for the 79,950,000 Tranche I Shares, consisting to
be admitted to trading on AIM and it is expected that their admission to AIM
will take place on or around 14 May 2024 ("Admission").

 

Following Admission, the Company's total issued share capital will consist of
1,954,744,153 Ordinary Shares, with one voting right per share. The Company
does not hold any shares in treasury. Therefore, the total number of Ordinary
Shares and voting rights in the Company will be 1,954,744,153 from Admission.
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.

 

Further updates will be provided on the Total Voting Rights on completion of
Tranches I and II of the Fundraising.

For further information, please contact:

Antoine
Karam
Corcel Plc Executive Chairman

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

Scott Gilbert
 
Corcel Plc CEO

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

James Joyce / James Bavister /Andrew de Andrade
            WH Ireland Ltd NOMAD & Broker

0207 220 1666
 
 

Patrick
d'Ancona
           Vigo Communications IR

0207 3900 230

 

 

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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