Recaudación de fondos, tratos con directores y TVR
Cargador PLC
("Corcel" o la "Compañía")
Recaudación de fondos, tratos con directores y TVR
15 de abril de 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").
Aspectos interesantes
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
El presidente ejecutivo de Corcel, Antoine Karam, comentó: "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."
Aumento de capital:
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:
directiva | Acciones ordinarias | Acciones totales | % del capital social emitido | Opciones | Warrants | |||
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| Directo | indirecto |
|
|
|
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Geraldine Geraldo | 39,975,000 | 39,200,000 | 79,175,000 | 3.89% | 31,490,580 | 0 |
Reunión general:
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.
Transacción entre partes relacionadas
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.
Derechos de voto totales:
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.
Para más información, por favor póngase en contacto con:
Antoine Karam Corcel Plc Presidente Ejecutivo
James Joyce / James Bavister /Andrew de Andrade WH Ireland Ltd NOMAD y Broker
0207 220 1666
Patricio de Ancona Comunicaciones Vigo IR
0207 3900 230
Se considera que la información contenida en este anuncio constituye información privilegiada según lo estipulado en el Reglamento de abuso de mercado (UE) No. 596/2014, que forma parte de la ley del Reino Unido en virtud de la Ley de la Unión Europea (retirada) de 2018. Tras la publicación de este anuncio, esta información privilegiada ahora se considera de dominio público.
1 | Detalles de la persona que cumple con las responsabilidades de gestión / persona estrechamente asociada | |||||
a) | Nombre | Geraldine Geraldo
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2 | Razón de la notificación | |||||
a) | Posición / estado | PDMR (Director Ejecutivo)
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b) | Notificación inicial / Enmienda | Notificación inicial | ||||
3 | Datos del emisor, participante en el mercado de derechos de emisión, plataforma de subastas, subastador o supervisor de subastas |
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a) | Nombre | corcel plc |
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b) | LEY | 2138009ECXQQ3EGKVY57 |
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4 | Detalles de la (s) transacción (es): sección que se repetirá para (i) cada tipo de instrumento; (ii) cada tipo de transacción; (iii) cada fecha; y (iv) cada lugar donde se han realizado transacciones |
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a) | Descripción del instrumento financiero, tipo de instrumento | Acciones ordinarias de 0.0001 libras esterlinas cada una |
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Código de identificación | GB00BKM69866 |
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b) | Naturaleza de la transacción | Compra de acciones ordinarias |
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c) | Precio (s) y volumen (s) | Precios) | Volumen (s) |
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£0.005
| 39,975,000
|
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d) | Información agregada | N/A |
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Volumen agregado | N/A |
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Precio | £0.005 |
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e) | Fecha de la transacción | 9 de abril de 2024 |
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f) | Lugar de la transacción | AIMX |
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