REG - Corcel PLC - Loan Conversion, Directors Dealings and TVR

CorcelAnnouncement

02/01/2024 07:00

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RNS Number : 2743Y  Corcel PLC  02 January 2024

 

Corcel PLC

("Corcel" or the "Company")

Loan Conversion - Directors Dealings - TVR

2 January 2024

Corcel Plc (London AIM: CRCL), the Angolan focused exploration and production
company, announces that it has received notice of the conversion of a portion
of its outstanding convertible loan notes as originally announced on 18
September 2023.

Convertible Loan Note Conversion:

The Company has been notified of the conversion of £250,000 of outstanding
loan notes and associated interest from its lender, Extractions Premium &
Mining Ltd ("EXT"), into 32,061,643 new ordinary shares of the Company at a
price of £0.008 (the "Conversion").  The principal balance of the
convertible loans note following conversion is £750,000.

As previously announced, EXT is 45% owned by the Executive Chairman of Corcel
Plc, Antoine Karam.

Directors Dealings:

Following the Conversion, the resultant Directors' shareholdings are as
follows:

 

 Director       Ordinary Shares        Total Shares  % of Issued Share Capital  Options  Warrants

                Direct    Indirect
 Antoine Karam  -         150,136,747  150,136,747   8.99%                      -        94,996,305

 

Admission to Trading on AIM and Total Voting Rights:

 

Application is being made for 32,061,643 Shares to be admitted to trading on
AIM, the admission of which it is expected on or around 08 January 2024.

 

In accordance with the provision of the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority, the Company confirms that, following
the issue of the Shares, its issued ordinary share capital will comprise
1,670,876,345 ordinary shares.

 

All of the ordinary shares have equal voting rights and none of the ordinary
shares are held in Treasury. The total number of voting rights in the Company
will therefore be 1,670,876,345. The above figure may be used by shareholders
as the denominator for the calculations to determine if they are required to
notify their interests in, or change to their interest in, the Company.

For further information, please contact:

Antoine
Karam
Corcel Plc Executive Chairman

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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