REG - Corcel PLC - Warrant Exercise and Extension

CorcelAnnouncement

24/09/2025 11:30

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RNS Number : 6496A  Corcel PLC  24 September 2025

 

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.

 

Corcel PLC

("Corcel" or the "Company")

 

Warrant Exercise and Extension, Director's Dealings and TVR

 

24 September 2025

 

Corcel Plc (London AIM: CRCL), the Angola-Brazil-focused energy company,
announces that it has received notice from Charlestown Energy Partners,
certain of the Company's directors, and other private investors of the
exercise of 50,000,000 Warrants (the "Warrants") at an exercise price of
£0.005 per share, raising £250,000 in new funds for the Company at a premium
to the prevailing share price.

 

At the same time, the Company has agreed to extend the expiry date of a
further 116,500,000 warrants, also exercisable at £0.005 per share,
 originally issued to Shandong New Powder COSMO ("SNPC") (the "Extended
Warrants") from 12 December 2025 to 12 December 2026 and has permitted the
transfer of 75,000,000 of the Extended Warrants to the investors who have
exercised the Warrants.  Corcel director Yan Zhao indirectly owns 48% of
SNPC.

 

Scott Gilbert Corcel CEO commented: "We are very pleased to see investor
confidence in the Company being reflected in the exercise of the Warrants at a
significant premium to the current share price.  We continue to make
important progress across our assets and our business development efforts are
generating value-enhancing opportunities."

 

Summary:

 

o  The 50,000,000 Warrants exercised, which were originally issued on 17
October 2022, have been transferred by SNPC to the incoming investors
(including the directors discussed below), who have exercised them immediately
resulting in the issuance of 50,000,000 New Ordinary Shares (the "Warrant
Shares")

o  SNPC has also transferred 75,000,000 of the Extended Warrants to those
investors

o  Scott Gilbert, Executive Director and CEO of Corcel, has participated in
the transaction and has exercised 2,000,000 Warrants and has received
3,000,000 of the Extended Warrants

o  Geraldine Geraldo, Executive Director of Corcel, has participated in the
transaction and has exercised 2,000,000 Warrants and has received 3,000,000 of
the Extended Warrants

o  Yan Zhao, Non-Executive Director, has participated in the transaction and
exercised 2,000,000 Warrants, and has received 3,000,000 of the Extended
Warrants

o  SNPC has retained 41,500,000 Warrants of the Extended Warrants

 

All other terms of the Extended Warrants remain unchanged.

 

 

Following the participation in the Transaction, the resultant Directors'
shareholdings are as follows:

 Directors          Total shares  % of Issued Share Capital  Options     Warrants

 Scott Gilbert      86,307,770    1.45%                      31,490,580  3,000,000

 Geraldine Gerlado  125,498,529   2.10%                      31,490,580  42,975,000
 Yan  Zhao          46,220,353    0.77%                      0           3,000,000

 

 

 

Admission and Total Voting Rights:

 

Application has been made for the 50,000,000 Warrant Shares to be admitted to
trading on AIM, which is expected to occur on or around 30 September 2025 (the
"Admission"). The Warrant Shares will rank pari passu in all respects with the
Ordinary shares of the Company currently trading on AIM.

 

Following the Admission, the Company's issued share capital will comprise of
5,963,458,138 Ordinary shares with one voting right per share. This number
will represent the total voting rights in the Company and may be used by
shareholders as the denominator for the calculation by which they can
determine if they are required to notify their interest in, or a change to
their interest in, the Company under the Financial Conduct Authority's
Disclosure and Transparency Rules.

 

 

For further information, please contact:

 

Scott
Gilbert

Corcel Plc, CEO & Director

Development@Corcelplc.com (mailto:Development@Corcelplc.com)
 

 

James Joyce / James Bavister / Andrew de Andrade

Zeus, NOMAD & Broker

020 3829 5000

 
 

Jonathan Wright / Rupert Holdsworth
Hunt

Auctus Advisors LLP, Joint Broker

07711 627449

 

Patrick d'Ancona
 

Vigo Consulting Limited, IR

0207 3900 230
 

 

About Corcel:

 

Corcel has a notable oil and gas portfolio in onshore Angola that includes
brownfield redevelopment opportunities and significant exploration upside.
Corcel marked a new country entry into Brazil through the option to acquire
rights to producing gas and exploration assets, further diversifying its
portfolio and enhancing its growth potential.

 

Corcel's Angola portfolio consists of interests in three licenses:

 

·      KON - 16 upon completion: operated - 80% working interest - 71.5%
net to CRCL

·      KON - 11 Non-Operated - 20% working interest - 18% net to CRCL

·      KON - 12 Non-Operated - 25% working interest - 22.5% net to CRCL

 

Corcel's Brazil portfolio consists of the option to acquire:

 

·      20% interest in the IRAI gas field

·      Right-of-first refusal ("ROFR") over the remaining 80% in the
IRAI field

·      ROFR for 100% of the adjacent TUC-T-172 exploration block,
located in the state of Bahia, onshore Brazil

 

Corcel's Battery Metals portfolio consists of an 80% working interest in the
Mt Weld Rare Earth Elements project in Western Australia.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                                                         1.   Scott Gilbert

                                                                                                  2.   Geraldine Geraldo

                                                                                                  3.   Yan Zhao
 2   Reason for the notification
 a)  Position/status                                                                              1.   Chief Executive Officer

                                                                                                  2.   Executive Director

                                                                                                  3.   Non-Executive Director
 b)  Initial notification/Amendment                                                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                            Corcel plc
 b)  LEI                                                             2138009ECXQQ3EGKVY57
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument     Ordinary shares of £0.0001 each
     Identification code                                             GB00BKM69866
 b)  Nature of the transaction                                       Warrant Exercise and Issue of Shares
 c)  Price(s) and volumes(s)                                         Price(s)                                                  Volume(s)
                                     1.   £0.005

                                     2.   £0.005                                                  1.   2,000,000

                                     3.   £0.005                                                  2.   2,000,000

                                                                                                  3.   2,000,000

 d)  Aggregated information                                          N/A
     Aggregated volume                                               N/A
     Price                                                           N/A
 e)  Date of the transaction                                         24 September 2025
 f)  Place of the transaction                                        London, AIMX

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                                                         1.   Scott Gilbert

                                                                                                  2.   Geraldine Geraldo

                                                                                                  3.   Yan Zhao
 2   Reason for the notification
 a)  Position/status                                                                              1.  Chief Executive Officer

                                                                                                  2.  Executive Director

                                                                                                  3.  Non-Executive Director
 b)  Initial notification/Amendment                                                               Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                            Corcel plc
 b)  LEI                                                             2138009ECXQQ3EGKVY57
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument     Warrants over Ordinary shares of £0.0001 each at an exercise price of £0.005
                                                                     each
     Identification code                                             GB00BKM69866
 b)  Nature of the transaction                                       Transfer of Warrants
 c)  Price(s) and volumes(s)                                         Price(s)                                                  Volume(s)
                                     4.   Nil

                                     5.   Nil                                                     4.   3,000,000

                                     6.   Nil                                                     5.   3,000,000

                                                                                                  6.   3,000,000

 d)  Aggregated information                                          N/A
     Aggregated volume                                               N/A
     Price                                                           N/A
 e)  Date of the transaction                                         24 September 2025
 f)  Place of the transaction                                        Outside of a trading venue

 

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