REG - Corcel PLC - Put Agreement

CorcelAnnouncement

16/04/2024 10:15

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RNS Number : 8075K  Corcel PLC  16 April 2024

 

Corcel PLC

("Corcel" or the "Company")

Put Agreement

16 April 2024

Corcel Plc (London AIM: CRCL), the Angolan-focused exploration and production
company, announces that it has been notified that Extractions Premium &
Mining Ltd. ("EXT"), which currently holds a 21.26% interest in Corcel, has
entered into a Put Option Agreement (the "Option") with Richard Jennings
("RJ") and has cancelled the Call Option Agreement previously announced on 29
February 2024.

Under the terms of this agreement, RJ has the right from 16 April 2024 until 1
September 2024, to sell up to 99,000,000 ordinary shares of the Company to
EXT, representing 4.87% of the ordinary shares currently in issue, at a price
of £0.0075 per share.  This price represents approximately a 142% premium to
the most recent closing price of the Company's shares.

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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