Corcel PLC
("Corcel" or the
"Company")
Appointment of Joint Broker -
Closing of Placing - TVR
29 October
2024
Corcel Plc (London AIM: CRCL), the pan
Angola-Brazil focused energy company, is pleased to announce that
it has appointed Auctus Advisors LLP ("Auctus") to act as joint
broker to the Company with immediate effect and also provides an
update on its total voting rights.
Corcel CEO Scott Gilbert commented: "We are excited to be
working with the team at Auctus Advisors, who have extensive
experience in the energy sector. We are also very pleased to have
completed the placing announced on 24 September 2024 and we are
grateful to our current and new shareholders who have demonstrated
solid ongoing support."
Joint Broker
Appointment:
The Company has appointed Auctus as joint broker to
the Company with immediate effect. Actus is a leading
independent equity capital markets and advisory business with a
particular focus on and deep experience in the energy
sector.
Placing
Update:
The Company further confirms that all GM resolutions
have passed and that Tranche II of the fundraising has now
completed. Accordingly, a further 640,000,000 new ordinary
shares will now be issued ("Further Placing Shares").
In addition, the Company has agreed to settle certain
fees due to professional advisors in the amount of £54,250
(including appliable VAT) through the issue of an additional
54,250,000 ordinary shares ("Fee Shares").
Total Voting
Rights:
Application will be made for the 640,000,000 Further
Placing Shares and 54,250,000 Fee Shares to be admitted
("Admission") to trading on AIM and it is expected that Admission
will occur on or around 30 October 2024.
Following Admission, the Company confirms that its
total issued share capital will consist of 3,732,550,515
Ordinary Shares, with one voting right per Ordinary Share. The
Company does not hold any Ordinary Shares in treasury. This
figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company pursuant to the
FCA's Disclosure Guidance and Transparency Rules.
For
further information, please contact:
Scott Gilbert
Corcel Plc CEO
Development@Corcelplc.com
James Joyce / James Bavister /Andrew de Andrade
Zeus
Capital NOMAD &
Broker
020 3829 5000
Jonathan Wright / Rupert Holdsworth
Hunt
Auctus Advisors Joint
Broker
07711 627449
Patrick d'Ancona
Vigo Communications
IR
0207 3900 230
About Corcel
Corcel has a notable oil and gas
portfolio in onshore Angola that includes brownfield development
opportunities and significant exploration upside.
Corcel's
Angola portfolio consists of interests in three
licences:
· KON
- 16 Operated - 55% working interest - 49.5% 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
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.