REG - Coro Energy PLC - Notice of General Meeting

Coro EnergyAnnouncement

15/01/2025 16:45

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RNS Number : 4851T  Coro Energy PLC  15 January 2025

15 January 2025

Coro Energy Plc

("Coro" or the "Company")

 

Notice of General Meeting

 

Coro Energy Plc, the South East Asian energy company with a natural gas and
clean energy portfolio, announces that further to the announcement 9 January
2025, a Shareholder Circular (containing a notice convening a General Meeting
of the Company) with proposals in relation to an 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") is available on the Company's website at
https://www.coroenergyplc.com and has been posted to shareholders today.

The General Meeting is to 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.

Should Shareholders not vote in favour of the Shareholder Resolution set out
in the notice of General Meeting, the Board would not be able to proceed with
the Recapitalisation and the Company would be unable to repay the Bonds on
their due date. In these circumstances, in the absence of substantial capital
being provided to the Company in the short term, the Board would likely seek
to cancel the Company's admission to trading on AIM and commence an orderly
winding up of the Company.  In this event it is highly unlikely that
Shareholders would see any return on their current investment. Capitalised
terms used but not defined in this announcement shall have the meaning given
to them in the Company's announcement of 9 January 2025.

 

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

 Retail Offer closes                                                             24 January 2025

 Latest time for receipt of proxy votes for the General Meeting                  9.00 a.m. on 3 February 2025

 Latest time for receipt of electronic voting instructions for the Bondholder    10.00 a.m. or 10.15 a.m. on 3 February 2025
 Meetings

 Bondholder meetings                                                             10.00 a.m. or 10.15 a.m. on 5 February 2025

 General Meeting                                                                 9.00 a.m. on 5 February 2025

 Share Capital Reorganisation Record Date                                        6.00 p.m. on 6 February 2025

 Admission and commencement of dealings of the New Ordinary Shares (following    8.00 a.m. on 7 February 2025
 completion of the Share Capital Reorganisation), the Subscription Shares, the
 Retail Offer Shares and the Bond Conversion Shares credited to CREST stock
 accounts

 Dispatch of definitive share certificates for the New Ordinary Shares           Week commencing 17 February 2025
 (following completion of the Share Capital Reorganisation), the Subscription
 Shares, the Retail Offer Shares and the Bond Conversion Shares

Latest time for receipt of electronic voting instructions for the Bondholder
Meetings

 

 10.00 a.m. or 10.15 a.m. on 3 February 2025

Bondholder meetings

 

10.00 a.m. or 10.15 a.m. on 5 February 2025

General Meeting

 

9.00 a.m. on 5 February 2025

Share Capital Reorganisation Record Date

 

6.00 p.m. on 6 February 2025

Admission and commencement of dealings of the New Ordinary Shares (following
completion of the Share Capital Reorganisation), the Subscription Shares, the
Retail Offer Shares and the Bond Conversion Shares credited to CREST stock
accounts

 

8.00 a.m. on 7 February 2025

Dispatch of definitive share certificates for the New Ordinary Shares
(following completion of the Share Capital Reorganisation), the Subscription
Shares, the Retail Offer Shares and the Bond Conversion Shares

Week commencing 17 February 2025

 

For further information please contact:

 Coro Energy plc                                Via Vigo Consulting Ltd

 Cavendish Capital Markets (Nominated Adviser)

 Adrian Hadden                                  Tel: 44 (0)20 7220 0500

 Ben Jeynes

 Hybridan LLP (Nominated Broker)                 Tel: 44 (0)20 3764 2341

 Claire Louise Noyce

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

 Patrick d'Ancona

 Finlay Thomson

 

 

 

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