REG - Corcel PLC - Share Incentive Plan Issuance

CorcelAnnouncement

20/05/2024 07:00

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RNS Number : 0041P  Corcel PLC  20 May 2024

Corcel PLC

("Corcel" or the "Company")

 

Share Incentive Plan Issuance

 

 

20 May 2024

 

Corcel Plc, ("Corcel" or "the Company"), the pan Angolan/Brazilian focused
exploration and production Company, announces that on 16 May 2024, the Board
of Directors approved the issuance of 3,556,362 ordinary shares of £0.0001
each in the Company ("New Ordinary Shares") under the Company's Share
Incentive Plan ("SIP") for the 2023/24 tax year as agreed in the Trustees
meetings held on 2 April 2024 and on 8 May 2024.

 

Under the SIP, all eligible employees may elect to have monthly deductions
made from their salaries and held by the SIP Trustees until the end of the
holding period of each tax year to be invested in the Company. The prices used
for share issuance were the mid-market closing price of £0.0033 as at 1 April
2023 for the Partnership Shares and the Matching Shares issue and the
mid-market closing price of £0.00375 as at 28 March 2024 for the Free Shares
issue. Accordingly, 545,454 Partnership Shares and 1,090,908 Matching Shares
and 1,920,000 Free Shares were issued.

 

Admission to Trading on AIM and Total Voting Rights

 

Application is being made to AIM for 3,556,362 New Ordinary Shares, allotted
in relation to the SIP for 2023/24 tax year, to be admitted to trading on AIM,
the admission of which it is expected on or around 24 May 2024.

 

Following admission of the New Ordinary Shares, the Company's total issued
share capital will consist of 1,958,300,515 ordinary shares, with one voting
right per share. The Company does not hold any shares in treasury. Therefore,
the total number of voting rights in the Company will be 1,958,300,515. 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 share capital of the Company, pursuant to
the Disclosure Guidance and Transparency Rules of the Financial Conduct
Authority.

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

 

This announcement contains inside information for the purposes of Article 7 of
Regulation 2014/596/EU, which is part of domestic UK law pursuant to the
Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed
in accordance with the Company's obligations under Article 17.

 

 

 

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