Continental Distribution - PDMR Shareholding

RNS Number : 3068M

Coro Energy PLC

26 April 2018

 

26 April 2018

Coro Energy Plc

("Coro" or the "Company")

Continental Distribution - Director/PDMR Shareholding

The Company announces that it has been notified by Continental Investment Partners S.A. ("Continental"), a person closely associated with Marco Fumagalli, a Non-Executive Director of the Company, that Metano Capital S.A. ("Metano"), a 100% subsidiary of Continental, has today, as part of a broader restructuring of its business, distributed  8,523,214 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") from its existing shareholding in the Company, directly to Continental investors as a distribution in kind for no consideration (the "Continental Distribution"). 

Marco Fumagalli, is Managing Partner of, and holds a 25 per cent. interest in Continental. Following the Continental Distribution, Continental and its affiliates Metano and Greenberry plc, remain interested in a total of 3,817,065 Ordinary Shares, representing 0.53% of the Issued Ordinary Share capital of the Company.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

Coro Energy plc Sara Edmonson, Chief Executive Officer James Parsons, Non-Executive Chairman	[e-mail] [e-mail]
Grant Thornton UK LLP (Financial and Nominated Adviser) Colin Aaronson Jen Clarke Harrison J Clarke	Tel: [phone]
Turner Pope Investments (TPI) Ltd (Broker) Ben Turner James Pope	Tel: [phone] [e-mail]

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Metano Capital S.A.
2	Reason for the notification
a)	Position/status	Notification concerns a PCA, being a legal person the managerial responsibilities of which are discharged by Marco Fumagalli, a PDMR of Coro Energy plc
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Coro Energy Plc
b)	LEI	2138004JXMD9YXLMKS49
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Ordinary shares of  0.1 pence each
	Identification code	GB00BDCFP425
b)	Nature of the transaction	Distribution of ordinary shares
c)	Price(s) and volume(s)	8,523,214 shares at 4.38 pence each
d)	Aggregated information
	- Aggregated volume	N/A
	- Price
e)	Date of the transaction	26/04/2018
f)	Place of the transaction	London Stock Exchange's AIM Market

 

END

 

 

DSHEAKLKAFFPEFF