REG - Corpus Resources PLC - Placing

Corpus ResourcesAnnouncement

11/02/2025 14:45

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RNS Number : 7306W  Corpus Resources PLC  11 February 2025

11 February 2025

Corpus Resources Plc

("Corpus" or the "Company")

Placing

Corpus Resources Plc (LSE: COR), announces that it has raised £99,000, before
expenses, through a placing of 659,999,997 new ordinary shares of 0.01p each
("Ordinary Shares") in the Company ("Placing Shares") at a price of 0.015
pence per new Ordinary Share (the "Issue Price") (the "Placing"). The Placing
Shares each have an attaching grant of warrants ("Warrants") on a one-for-one
basis, exercisable subject to the publication of a prospectus, at a price of
0.05 pence per ordinary share, with the Warrants expiring on the third
anniversary of the admission to trading date of the Placing Shares.

The Placing Shares will represent approximately 35 per cent. of the Company's
enlarged issued share capital following the Placing. The Issue Price
represents a discount of approximately 33 per cent. to the current mid-market
price of 0.0225 pence per Ordinary Share.

The net proceeds of the Placing will be used for working capital and to
progress reverse takeover efforts.  Further announcements will be made by the
Company in due course as appropriate.

Following Admission of the Placing Shares, the Company's issued ordinary share
capital will comprise 1,892,973,462 ordinary shares. Therefore, following
Admission the total number of ordinary shares with voting rights in the
Company will be 1,892,973,462 which may be used by shareholders as the
denominator for the calculations by which they will 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 Guidance and
Transparency Rules.

The Company is currently unable to admit the entirety of the Placing Shares
without either the publication of a prospectus or relying upon an exemption to
the requirement to issue a prospectus. Consequently, the Placing involves a
subscription by Richard Glass, a director of Corpus, for 413,405,304 Ordinary
Shares in the Company, at the Placing Price being 0.015 pence per Ordinary
Share. Following Admission, Mr Glass has agreed to immediately sell these
413,405,304 Ordinary Shares, at the Placing Price, to certain investors
introduced by Peterhouse.

For further information please contact:

 Corpus Resources Plc
 Paul Forrest/Richard Glass                     info@corpusresources.com
                                                www.corpusresources.com

 Peterhouse Capital Limited (Corporate Broker)  020 7469 0936

 

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