Corcel PLC
("Corcel" or the "Company")
Loan Conversion - Directors Dealings - TVR
2 January 2024
Corcel Plc (London AIM: CRCL), the Angolan focused exploration and production company, announces that it has received notice of the conversion of a portion of its outstanding convertible loan notes as originally announced on 18 September 2023.
Convertible Loan Note Conversion:
The Company has been notified of the conversion of £250,000 of outstanding loan notes and associated interest from its lender, Extractions Premium & Mining Ltd ("EXT"), into 32,061,643 new ordinary shares of the Company at a price of £0.008 (the "Conversion"). The principal balance of the convertible loans note following conversion is £750,000.
As previously announced, EXT is 45% owned by the Executive Chairman of Corcel Plc, Antoine Karam.
Directors Dealings:
Following the Conversion, the resultant Directors' shareholdings are as follows:
| Director | Ordinary Shares | Total Shares | % of Issued Share Capital | Options | Warrants | ||
|
| Direct | Indirect |
|
|
|
| |
| Antoine Karam | - | 150,136,747 | 150,136,747 | 8.99% | - | 94,996,305 | |
Admission to Trading on AIM and Total Voting Rights:
Application is being made for 32,061,643 Shares to be admitted to trading on AIM, the admission of which it is expected on or around 08 January 2024.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Shares, its issued ordinary share capital will comprise 1,670,876,345 ordinary shares.
All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 1,670,876,345. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.
For further information, please contact:
Antoine Karam Corcel Plc Executive Chairman
James Joyce / James Bavister /Andrew de Andrade WH Ireland Ltd NOMAD & Broker
0207 220 1666
Patrick d'Ancona Vigo Communications IR
0207 3900 230
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