15 January 2025
Coro Energy Plc
("Coro" or the "Company")
Notice of General Meeting
Coro Energy Plc, the South East Asian energy company with a natural gas and clean energy portfolio, announces that further to the announcement 9 January 2025, a Shareholder Circular (containing a notice convening a General Meeting of the Company) with proposals in relation to an equity fundraising, a share capital reorganisation and the deemed redemption of part of the Company's existing secured listed bonds with the balance being converted into equity ("the Recapitalisation") is available on the Company's website at https://www.coroenergyplc.com and has been posted to shareholders today.
The General Meeting is to be held on 5 February 2025 at 9.00 a.m. at Fieldfisher's offices, 9th Floor, Riverbank House, 2 Swan Lane, London EC4R 3TT.
Should Shareholders not vote in favour of the Shareholder Resolution set out in the notice of General Meeting, the Board would not be able to proceed with the Recapitalisation and the Company would be unable to repay the Bonds on their due date. In these circumstances, in the absence of substantial capital being provided to the Company in the short term, the Board would likely seek to cancel the Company's admission to trading on AIM and commence an orderly winding up of the Company. In this event it is highly unlikely that Shareholders would see any return on their current investment. Capitalised terms used but not defined in this announcement shall have the meaning given to them in the Company's announcement of 9 January 2025.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
| Retail Offer closes
| 24 January 2025 | |
| Latest time for receipt of proxy votes for the General Meeting
|
| |
| Latest time for receipt of electronic voting instructions for the Bondholder Meetings
|
| |
| Bondholder meetings
| 10.00 a.m. or 10.15 a.m. on 5 February 2025 | |
| General Meeting
| 9.00 a.m. on 5 February 2025 | |
| Share Capital Reorganisation Record Date
| 6.00 p.m. on 6 February 2025 | |
| Admission and commencement of dealings of the New Ordinary Shares (following completion of the Share Capital Reorganisation), the Subscription Shares, the Retail Offer Shares and the Bond Conversion Shares credited to CREST stock accounts
| 8.00 a.m. on 7 February 2025 | |
| Dispatch of definitive share certificates for the New Ordinary Shares (following completion of the Share Capital Reorganisation), the Subscription Shares, the Retail Offer Shares and the Bond Conversion Shares | Week commencing 17 February 2025 |
For further information please contact:
| Coro Energy plc
| Via Vigo Consulting Ltd
|
| Cavendish Capital Markets (Nominated Adviser) Adrian Hadden Ben Jeynes
|
Tel: 44 (0)20 7220 0500 |
| Hybridan LLP (Nominated Broker) Claire Louise Noyce
| Tel: 44 (0)20 3764 2341 |
| Vigo Consulting (IR/PR Advisor) Patrick d'Ancona Finlay Thomson | Tel: 44 (0)20 7390 0230 |
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