REG - Coro Energy PLC - Publication of Bond Proposals

Coro EnergyAnnouncement

14/01/2025 14:15

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RNS Number : 3008T  Coro Energy PLC  14 January 2025

14 January 2025

 

Coro Energy Plc

("Coro" or the "Company")

 

Publication of proposals in relation to redemption and conversion of Bonds

 

Coro Energy Plc, the South East Asian energy company with a natural gas and
clean energy portfolio, announces, further to the announcement of 9 January
2025 in respect of the Company's Luxembourg listed EUR 22.5 million 10.0%
secured notes (with interest a total of EUR 29.2 million) ("Bonds"), the
Company has published proposals for the redemption and conversion of the Bonds
(the "Bond Proposals") to the holders of the Bond (the "Bondholders").

Meetings of the Bondholders ("Bondholder Meetings") have been convened to be
held at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London,
EC4R 3TT, at 10.00 a.m. (GMT) on 5 February 2025 in respect of the Tranche A
Notes and at 10.15 a.m. (GMT) on 5 February 2025 (or after the completion of
the Tranche A Notes Meeting (whichever is later)) in respect of the Tranche B
Notes  to consider the following proposals:

·    the deemed repayment of 75% of the principal amount of the Bonds
together with all accrued interest; and

·    the conversion of the balance of principal outstanding under the
Bonds into 311,617,085 New Ordinary Shares ("Bond Conversion Shares") at the
Issue Price.

The Bond Proposals will be conditional, inter alia, on:

·      the Shareholder Resolution being duly passed;

·      the Bondholders passing the requisite resolutions at the
Bondholder Meetings; and

·     Admission of the Bond Conversion Shares, Subscription Shares and
Retail Offer Shares to trading on the AIM market of the London Stock
Exchange.

A copy of the circular sent to Bondholders containing the Bond Proposals is
available on the Company's website at www.coroenergyplc.com
(http://www.coroenergyplc.com)

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.

 

For Further Information

 

 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

 

 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 (http://www.coroenergyplc.com)

 

 

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