Results of the Placing and proposed Subscription
Summary by AI BETAClose X
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS "ANNOUNCEMENT"), IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").
12 November 2026
Coro Energy Plc
("Coro" or the "Company")
Results of the Placing and proposed Subscription
Coro Energy Plc, the South East Asian renewable energy developer, is pleased to announce the successful completion of the Bookbuild announced on 11 November 2026. The Placing has conditionally raised gross proceeds of £1.0 million through the issue of 33,333,000 new ordinary shares at an Issue Price of 3 pence per share. The Company also intends to raise £125,000 by way of a subscription of 4,166,667 new ordinary shares (the “Subscription Shares") at the Issue Price (the “Subscription”) . The Placing Shares and the Subscription Shares (together being the “Fundraising Shares”) will represent 25.7% of the total enlarged ordinary share capital of the Company following the admission of the Fundraising Shares to trading on AIM.
Defined terms used in this announcement have the same meaning as those set out in the Company's announcement released yesterday.
Results of the Placing
The Placing has conditionally raised gross proceeds of £1.0 million through the issue of 33,333,000 new ordinary shares issued to existing and new institutional investors at the Issue Price pursuant to the Placing by Tennyson, acting as broker to the Company. Investors in the Placing will receive one Investor Warrant for every one Placing Share subscribed for, exercisable at 4.5 pence per share (a premium of 50% to the Issue Price) and subject to the terms of the Warrant Deed constituting the Investor Warrants as described under “Investor Warrants” in the announcement on 11 November 2026.
Subscription
It is intended that the Subscription will comprise the issue of 4,166,667 Subscription Shares to raise gross proceeds of £125,000. The Subscription is separate from the Placing and the Placing is not conditional on the Subscription occurring.. Binding agreements in relation to the Subscription are expected to be entered into shortly. The investor in the Subscription will not receive any Investor Warrants.
The Fundraising Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the Fundraising Shares.
General Meeting and Posting of Circular
The Placing and Subscription are each conditional, inter alia, on approvals at the General Meeting, expected to be held on 4 December 2026. The Company expects to publish, on or about 13 November 2026, a shareholder circular to convene the General Meeting and a further announcement will be made in due course.
Admission and Trading
Application will be made to London Stock Exchange for the Fundraising Shares to be admitted to trading on AIM. It is currently expected that Admission will become effective, and that trading of the Fundraising Shares will commence on AIM, at 8.00 a.m. on 7 December 2025.
Directors' participation
Tom Richardson has agreed to subscribe for Placing Shares pursuant to the Placing. The number of Placing Shares to be subscribed by Tom Richrdson and his resulting shareholding on Admission are set out below:
|
Name |
Number of existing Ordinary Shares |
Number of Placing Shares |
Number of Ordinary Shares on Admission |
Percentage of Enlarged Share Capital on Admission |
|
Tom Richardson |
1,852,106 |
833,334 |
2,685,440 |
1.8% |
Tom Richardson, Chairman of Coro, commented:
“We are grateful to our investors, both new and existing, for their ongoing support as we look to progress our plans in Vietnam at an exciting time for Coro. I look forward to updating the market on our progress in due course.”
- ENDS -
For further information please contact:
|
Coro Energy Plc |
Via Vigo Consulting Ltd |
|
Cavendish Capital Markets Limited (Nominated Adviser) Adrian Hadden Ben Jeynes |
Tel: +44 (0)20 7220 0500 |
|
Tennyson Securities Ltd (Nominated Broker) Peter Krens |
Tel: +44 (0)20 4530 9239 |
|
Vigo Consulting (IR/PR Advisor) Patrick d'Ancona |
Tel: +44 (0)20 7390 0230 |
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