Collecte de fonds, relations avec les administrateurs et TVR
Chargeur PLC
("Corcel" ou la "Société")
Collecte de fonds, relations avec les administrateurs et TVR
15 Avril 2024
Corcel plc, (London AIM: CRCL), the Angolan focused exploration and production company announces the completion of an equity placing including a significant further investment from the Company's current majority shareholder, Extraction Srl ("EXT").
Points forts:
o Completion of a fundraising of £1,299,750 at a price of £0.005 per share, reflecting approximately a 37% premium to the most recent closing price, with one for one warrants at £0.01 per share
o Placing includes follow-on investment of £500,000 by current Cornerstone Investor Extraction Srl as well a Corcel Director and several additional institutional investors
Le président exécutif de Corcel, Antoine Karam, a déclaré : "Ongoing operations in Angola necessitate additional funding into the business somewhat earlier than originally expected, due in part to delays and costs arising from severe weather conditions. While equity markets clearly remain skittish, Extraction Srl and Corcel Director, Geraldine Geraldo, have chosen to cornerstone this placing at a premium, ensuring the Company receives the best possible terms available, and illustrating our ongoing optimism regarding the reactivation of the historic Tobias field in Angola."
Equity Raise:
The Company has executed a placing agreement to raise total proceeds of £1,299,750 from the issue of 259,950,000 new ordinary shares of £0.0001 (Ordinary Shares) at £0.005 (the "Placing Price") per share ("Shares"), cornerstoned by £500,000 invested by the Company's current major shareholder, Extraction Srl and supported by Geraldine Geraldo, a director of the Company, to the amount of £199,875.
Investors will receive a total of 259,950,000 warrants enabling the owner to purchase new ordinary shares at a price of £0.01 per share for a period of twenty-four months (the "Warrants"). (Shares and Warrants together the "Fundraising")
The Company intends to use the funds from the Fundraising primarily to finance its ongoing operations in Angola.
The Company has agreed on the following staged settlement timeline with investors:
o Tranche I - £799,750 representing 159,950,000 new ordinary shares to be settled immediately
o Tranche II - £500,000 representing 100,000,000 new ordinary shares to be settled following a forthcoming General Meeting
Following Tranche I of the Fundraising, and prior to the forthcoming General Meeting and subsequent Share and Warrant issuance, the resultant Directors' shareholdings are as follows:
Administration | Actions ordinaires | Nombre total d'actions | % du capital social émis | Options | Mandats | |||
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| direct et gratuit | Indirect |
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|
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Géraldine Géraldo | 39,975,000 | 39,200,000 | 79,175,000 | 3.89% | 31,490,580 | 0 |
General Meeting:
The Fundraising will result in the issuance of 259,950,000 new ordinary shares and 259,950,000 warrants. Currently, the Company has 159,950,000 of remaining shareholder authority to issue new ordinary shares for cash on a non-pre-emptive basis. Accordingly, 159,950,000 Shares will be issued under the Company's existing share authorities, whilst 100,000,000 Shares and 259,950,000 Warrants are to be conditional upon, inter alia, the passing of resolutions to be put to shareholders of the Company at a general meeting of the Company.
The Company will publish a circular to convene the General Meeting to propose Resolutions to enable issuance of the balance of the Shares and the Warrants and a renewal of routine equity authorities to support the ongoing operations of the business. A further announcement covering the details of the general meeting will be made and a circular containing the notice of meeting will be published and sent to shareholders in the coming days and will be available on the Company's website, www.corcelplc.com. Shareholders are urged to vote by proxy in accordance with the instructions set out in the notice of general meeting.
Debt Cancellation:
Further to the announcement of 23 February 2024 and in light of the expanded Board's preference to avoid where possible the Company using debt to finance its current activities, the Company and EXT have ceased discussions regarding further drawdowns of convertible loan notes. Following notification by Extraction Srl, both parties have acknowledged the full repayment and termination of the outstanding loan facility, originally announced on 18 September 2023, effective immediately.
Transaction avec des parties liées
Extraction Srl is a significant shareholder in the Company with a 25% interest after the Fundraising has completed and Extraction Srl is 45% owned by the Executive Chairman of Corcel Plc, Antoine Karam. Accordingly, Extraction's and Geraldine Geraldo's participation in the placing are a related party transaction, pursuant to Rule 13 of the AIM Rules. The debt cancellation discussed above is also a related party transaction. As such, Antoine Karam and Geraldine Geraldo have not been involved in the approval of the Transaction by the Company's Board.
The Directors of the Company independent of the transaction, having consulted with the Company's nominated advisor, WH Ireland Ltd, consider the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.
Droits de vote totaux :
Application will be made for the first tranche of the Shares, consisting of 159,950,000 new ordinary shares to be admitted to trading on AIM and it is expected that their admissions to AIM will take place on or around 17 April 2024.
Following Admission of the first tranche of Shares, the Company's total issued share capital will consist of 2,034,744,153 Ordinary Shares, with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 2,034,744,153 from Admission. 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.
Further updates will be provided on the Total Voting Rights on completion of Tranche II of the Fundraising.
Pour plus d'informations, s'il vous plaît contacter:
Antoine Karam Corcel Plc Président exécutif
James Joyce / James Bavister /Andrew de Andrade WH Ireland Ltd NOMADE & Broker
+0207 (220)1666
Patrick d'Ancône Communications Vigo IR
+0207 (3900)230
Les informations contenues dans cette annonce sont réputées constituer des informations privilégiées conformément au règlement sur les abus de marché (UE) n° 596/2014 qui fait partie du droit britannique en vertu de la loi de 2018 sur l'Union européenne (retrait). annonce, cette information privilégiée est désormais considérée comme étant du domaine public.
1 | Coordonnées de la personne exerçant des responsabilités managériales / personne étroitement liée | |||||
a) | Nom | Géraldine Géraldo
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2 | Motif de la notification | |||||
a) | Poste/statut | PDMR (Directeur Exécutif)
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b) | Notification initiale/Modification | Notification initiale | ||||
3 | Coordonnées de l'émetteur, du participant au marché des quotas d'émission, de la plate-forme d'enchères, du commissaire-priseur ou du contrôleur des enchères |
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a) | Nom | Corcel SA |
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b) | LEI | 2138009ECXQQ3EGKVY57 |
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4 | Détails de la (des) transaction (s): section à répéter pour (i) chaque type d'instrument; (ii) chaque type de transaction; (iii) chaque date; et (iv) chaque lieu où des transactions ont été effectuées |
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a) | Description de l'instrument financier, type d'instrument | Actions ordinaires de 0.0001 £ chacune |
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Code d'identification | GB00BKM69866 |
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b) | Nature de la transaction | Achat d'actions ordinaires |
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c) | Prix(s) et volume(s) | Des prix) | Volume(s) |
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£0.005
| 39,975,000
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d) | Informations agrégées | N/D |
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Volume agrégé | N/D |
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Prix | £0.005 |
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e) | Date de la transaction | 9 Avril 2024 |
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f) | Lieu de la transaction | AIMX |
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