REG - Corcel PLC - Signature Bonus Payments, Settlement Finalisation

CorcelAnnouncement

14/07/2023 07:00

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RNS Number : 9940F  Corcel PLC  14 July 2023

 

Corcel PLC

("Corcel" or the "Company")

 

Signature Bonus Payments, Placing Settlement Finalisation and TVR

14 July 2023

Corcel Plc (London AIM: CRCL), the pan Angolan / Brazilian Oil and Gas
company, with interests across battery metals mining and oil and gas,
announces the payment of Risk Service Contract signature bonuses in Angola as
well as the settlement of two previously announced placings.

The Company confirms that following the signature of the Risk Service
Contracts for its three Angolan oil block licenses, it has now paid to the
ANPG (Agência Nacional de Petróleo, Gás e Biocombustíveis) $821,000 in
required signature bonuses.

Funding Updates:

The Company also confirms that, further to the fundraising announced on 28
March 2023, it has now received the full proceeds of £1,055,515 and that
accordingly the final tranche of the placing (the "March Shares"), 130,147,004
ordinary shares will now be issued.

 

The Company also confirms that, further to the fundraising announced on 24 May
2023, it has received £226,958 in cash to date, completing tranches 1 and 2,
and that accordingly 50,489,500 relating to tranche 1 and an additional
6,250,000 shares relating to tranche 2 (the "May Shares") will now be
issued.  As announced on 24 May 2023 and 2 June 2023 application has been
made for 50,489,500 new ordinary shares, to be admitted to trading on AIM and
it is expected that their admission to AIM will take place on or around 19
July 2023. Additional announcements will be made regarding tranches 3 and 4
of this fundraising when they come due.

 

Total Voting Rights:

Application will be made for the March Shares and the May Shares, 136,397,004
new ordinary shares in total, to be admitted to trading on AIM and it is
expected that their admissions to AIM will take place on or around 19 July
2023.

Following Admission the Company's total issued share capital will consist
of 1,460,583,238 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 1,460,583,238 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.

For further information, please contact:

James
Parsons
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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