REG - Corcel PLC - Sale of Tring Road Peaker Project

CorcelAnnouncement

16/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221116:nRSP5264Ga&default-theme=true

RNS Number : 5264G  Corcel PLC  16 November 2022

 

16 November 2022

 

 

Corcel PLC

("Corcel" or the "Company")

 

Sale of Tring Road Peaker Project

 

 

Corcel Plc (London AIM: CRCL), the natural resource exploration and
development company, with interests in battery metals and flexible energy
generation and storage, announces that it has sold it's 40% interest in the
Tring Road 50MW gas peaking project outside of Aylesbury to Terra Firma Ltd.
The Company has agreed a sales price of £317,946, with £121,146 to be paid
immediately and a further £196,800 at completion. The Company intends to use
these funds, once received, to further reduce its recently restructured debt,
as announced on 31 October 2022.

For the year ended 31 July 2021 the losses attributable to the asset were
£425 and the investment was held in the Company's interim accounts balance
sheet at £400,000 on 31 December 2021.

Scott Kaintz, CEO of Corcel commented:

"The disposal of the Tring Road Gas peaking project and the MOU in respect of
the restructuring of the Company's PNG based battery metal interests through
the proposed Singaporean joint venture with NPC announced in October, are
significant milestones in the ongoing transformation of Corcel's business
interests.  We look forward to announcing further developments of these
efforts in due course."

 

For further information, please contact:

Scott Kaintz 020 7747
9960
                      Corcel Plc CEO

James Joyce / Andrew de Andrade 0207 220 1666
                        WH Ireland Ltd NOMAD &
Broker

Simon Woods 0207 3900
230
                             Vigo Communications
IR

 

This announcement contains inside information under Article 7 of Regulation
(EU) 596/2014.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISFFAESIEESESF