REG - Coro Energy PLC - Extension and increase of WRAP Retail Offer

Coro EnergyAnnouncement

24/01/2025 15:00

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RNS Number : 6695U  Coro Energy PLC  24 January 2025

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND,
CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER
JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE
A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

 

THE COMMUNICATION OF THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS OR MATERIALS
RELATING TO THE WRAP RETAIL OFFER AS A FINANCIAL PROMOTION IS ONLY BEING MADE
TO, AND MAY ONLY BE ACTED UPON BY, THOSE PERSONS IN THE UNITED KINGDOM FALLING
WITHIN ARTICLE 43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL
PROMOTION) ORDER 2005, AS AMENDED (WHICH INCLUDES AN EXISTING MEMBER OF CORO
ENERGY PLC).  ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS
ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN
ONLY WITH SUCH PERSONS. THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY,
AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY
SECURITIES OF CORO ENERGY PLC.

 

24 January 2025

 

Coro Energy plc

 

Extension and increase of WRAP Retail Offer

 

Coro Energy plc ("Coro" or the "Company"), the South East Asian energy company
with a natural gas and clean energy portfolio, announces that further to the
announcement made on 10 January 2025 regarding the WRAP Retail Offer launch,
the Company is extending the time for existing retail shareholders to
participate in the WRAP Retail Offer as well as increasing the maximum amount
to £125,000.00.  The Company would like to thank those retail shareholders
who have, by participating  in this WRAP Retail Offer, demonstrated continued
support for the Company.

 

Under the increased WRAP Retail Offer up to 83,333,334 New Ordinary Shares
(the "WRAP Retail Offer Shares") will be made available at a price of 1.5
pence per New Ordinary Share.

 

Under the revised timetable, the WRAP Retail Offer will now close on 3
February at 4:30pm. As per the announcement made on 15 January 2025, the
General Meeting to grant authority for the issue of the Retail Offer Shares
will be held on 5 February 2025 at 9.00 a.m. at Fieldfisher's offices, 9th
Floor, Riverbank House, 2 Swan Lane, London EC4R 3TT.

 

A Shareholder Circular (containing a notice convening the General Meeting) has
been posted to shareholders and is available on the Company's website
https://www.coroenergyplc.com (https://www.coroenergyplc.com) with proposals
in relation to the equity fundraising, a share capital reorganisation and the
deemed redemption of part of the Company's existing secured listed bonds with
the balance being converted into equity ("the Recapitalisation").

 

Retail brokers wishing to participate in the WRAP Retail Offer on behalf of
existing retail shareholders should contact wrap@winterflood.com. Existing
shareholders can contact their broker or wealth manager to participate in the
WRAP Retail Offer.

 

Terms used but not defined in this announcement have the same meaning as set
out in the Company's announcement released at 07.00am on 10 January 2025.

 

 

For Further Information please contact:

 

 Coro Energy plc                                        Via Vigo Consulting Ltd

 Cavendish Capital Markets Limited (Nominated Adviser)  +44 (0)20 7220 0500
 Adrian Hadden

 Ben Jeynes

 Hybridan LLP (Nominated Broker)                        +44 (0)20 3764 2341
 Claire Louise Noyce

 Winterflood Retail Access Platform                     WRAP@winterflood.com
 Joe Winkley, Sophia Bechev                             + 44 (0) 203 100 0286

 Vigo Consulting (IR/PR Advisor)                        Tel: 44 (0)20 7390 0230

 Patrick d'Ancona

 Finlay Thomson

Further information on the Company can be found on its website at
www.coroenergyplc.com

 

The Company's LEI is 2138004JXMD9YXLMKS49.

 

This announcement should be read in its entirety. In particular, the
information in the "Important Notices" section of the announcement should be
read and understood.

 

 

Important Notices

 

The content of this announcement, which has been prepared by and is the sole
responsibility of the Company.

 

This announcement and the information contained herein is not for release,
publication or distribution, directly or indirectly, in whole or in part, in
or into or from the United States (including its territories and possessions,
any state of the United States and the District of Columbia (the "United
States" or "US")), Australia, Canada, New Zealand, Japan, the Republic of
South Africa, any member state of the EEA or any other jurisdiction where to
do so might constitute a violation of the relevant laws or regulations of such
jurisdiction.

 

The WRAP Retail Offer Shares have not been and will not be registered under
the US Securities Act of 1933, as amended (the "US Securities Act") or under
the applicable state securities laws of the United States and may not be
offered or sold directly or indirectly in or into the United States. No public
offering of the WRAP Retail Offer Shares is being made in the United States.
The WRAP Retail Offer Shares are being offered and sold outside the United
States in "offshore transactions", as defined in, and in compliance with,
Regulation S under the US Securities Act ("Regulation S") to non-US persons
(within the meaning of Regulation S). In addition, the Company has not been,
and will not be, registered under the US Investment Company Act of 1940, as
amended.

 

This announcement does not constitute an offer to sell or issue or a
solicitation of an offer to buy or subscribe for WRAP Retail Offer Shares in
the United States, Australia, Canada, New Zealand, Japan, the Republic of
South Africa, any member state of the EEA or any other jurisdiction in which
such offer or solicitation is or may be unlawful. No public offer of the
securities referred to herein is being made in any such jurisdiction.

 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America.  This announcement is
not an offer of securities for sale into the United States.  The securities
referred to herein have not been and will not be registered under the US
Securities Act, and may not be offered or sold in the United States, except
pursuant to an applicable exemption from registration.  No public offering of
securities is being made in the United States.

 

The distribution of this announcement may be restricted by law in certain
jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.

 

WRAP is a proprietary technology platform owned and operated by Winterflood
Securities Ltd (registered address at Riverbank House, 2 Swan Lane, London
EC4R 3GA; FRN 141455). Winterflood Securities Ltd ("Winterflood") is
authorised and regulated in the United Kingdom by the Financial Conduct
Authority, is acting exclusively for the Company and for no-one else and will
not regard any other person (whether or not a recipient of this announcement)
as its client in relation to the WRAP Retail Offer and will not be responsible
to anyone other than the Company for providing the protections afforded to its
clients, nor for providing advice in connection with the WRAP Retail Offer,
Admission and the other arrangements referred to in this announcement.

 

The value of Ordinary Shares and the income from them is not guaranteed and
can fall as well as rise due to stock market movements. When you sell your
investment, you may get back less than you originally invested. Figures refer
to past performance and past performance is not a reliable indicator of future
results. Returns may increase or decrease as a result of currency
fluctuations.

 

Certain statements in this announcement are forward-looking statements which
are based on the Company's expectations, intentions and projections regarding
its future performance, anticipated events or trends and other matters that
are not historical facts. These forward-looking statements, which may use
words such as "aim", "anticipate", "believe", "intend", "estimate", "expect"
and words of similar meaning, include all matters that are not historical
facts. These forward-looking statements involve risks, assumptions and
uncertainties that could cause the actual results of operations, financial
condition, liquidity and dividend policy and the development of the industries
in which the Company's businesses operate to differ materially from the
impression created by the forward-looking statements. These statements are not
guarantees of future performance and are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements.
Given those risks and uncertainties, prospective investors are cautioned not
to place undue reliance on forward-looking statements.

 

These forward-looking statements speak only as at the date of this
announcement and cannot be relied upon as a guide to future performance. The
Company and Winterflood expressly disclaim any obligation or undertaking to
update or revise any forward-looking statements contained herein to reflect
actual results or any change in the assumptions, conditions or circumstances
on which any such statements are based unless required to do so by the
Financial Conduct Authority, the London Stock Exchange or applicable law.

 

The information in this announcement is for background purposes only and does
not purport to be full or complete. None of Winterflood or any of its
affiliates, accepts any responsibility or liability whatsoever for, or makes
any representation or warranty, express or implied, as to this announcement,
including the truth, accuracy or completeness of the information in this
announcement (or whether any information has been omitted from the
announcement) or any other information relating to the Company or associated
companies, whether written, oral or in a visual or electronic form, and
howsoever transmitted or made available or for any loss howsoever arising from
any use of the announcement or its contents or otherwise arising in connection
therewith. Winterflood and its affiliates, accordingly disclaim all and any
liability whether arising in tort, contract or otherwise which they might
otherwise be found to have in respect of this announcement or its contents or
otherwise arising in connection therewith.

 

Any indication in this announcement of the price at which the Ordinary Share
have been bought or sold in the past cannot be relied upon as a guide to
future performance. Persons needing advice should consult an independent
financial adviser. No statement in this announcement is intended to be a
profit forecast and no statement in this announcement should be interpreted to
mean that earnings or target dividend per share of the Company for the current
or future financial years would necessarily match or exceed the historical
published earnings or dividends per share of the Company.

 

Neither the content of the Company's website (or any other website) nor the
content of any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into or forms part of this announcement.
The WRAP Retail Offer Shares to be issued or sold pursuant to the WRAP Retail
Offer will not be admitted to trading on any stock exchange other than the
London Stock Exchange.

 

It is further noted that the WRAP Retail Offer is only open to investors in
the United Kingdom who fall within Article 43 of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended (which includes
an existing member of the Company).

 

Cavendish Capital Markets Limited which is authorised and regulated by the FCA
in the United Kingdom, is acting Nominated Adviser to the Company. Cavendish
Capital Markets Limited has not authorised the contents of, or any part of,
this announcement, and no liability whatsoever is accepted by Cavendish
Capital Markets Limited for the accuracy of any information or opinions
contained in this announcement or for the omission of any material
information. The responsibilities of Cavendish Capital Markets Limited as the
Company's Nominated Adviser under the Market Rules for Companies and the
Market Rules for Nominated Advisers are owed solely to London Stock Exchange
plc and are not owed to the Company or to any director or shareholder of the
Company or any other person, in respect of its decision to acquire shares in
the capital of the Company in reliance on any part of this announcement, or
otherwise.

 

Hybridan LLP ("Hybridan") is authorised and regulated by the FCA in the United
Kingdom. Hybridan is acting solely as broker exclusively for the Company and
no one else in connection with the Subscription and the contents of this
announcement and will not regard any other person (whether or not a recipient
of this Announcement) as its client in relation to the Subscription or the
contents of this announcement nor will it be responsible to anyone other than
the Company for providing the protections afforded to its clients or for
providing advice in relation to the contents of this announcement. Apart from
the responsibilities and liabilities, if any, which may be imposed on Hybridan
by FSMA or the regulatory regime established thereunder, Hybridan accepts no
responsibility whatsoever, and makes no representation or warranty, express or
implied, for the Subscription or the contents of this announcement including
its accuracy, completeness or verification or for any other statement made or
purported to be made by it, or on behalf of it, the Company or any other
person, in connection with the Company and the contents of this announcement,
whether as to the past or the future. Hybridan accordingly disclaims all and
any liability whatsoever, whether arising in tort, contract or otherwise (save
as referred to above), which it might otherwise have in respect of the
contents of this announcement or any such statement.

 

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