Put Agreement

Corcel PLC

16 April 2024

 

Corcel PLC

("Corcel" or the "Company")

Put Agreement

16 April 2024

Corcel Plc (London AIM: CRCL), the Angolan-focused exploration and production company, announces that it has been notified that Extractions Premium & Mining Ltd. ("EXT"), which currently holds a 21.26% interest in Corcel, has entered into a Put Option Agreement (the "Option") with Richard Jennings ("RJ") and has cancelled the Call Option Agreement previously announced on 29 February 2024. 

Under the terms of this agreement, RJ has the right from 16 April 2024 until 1 September 2024, to sell up to 99,000,000 ordinary shares of the Company to EXT, representing 4.87% of the ordinary shares currently in issue, at a price of £0.0075 per share.  This price represents approximately a 142% premium to the most recent closing price of the Company's shares. 

For further information, please contact:

Antoine Karam                                                                        Corcel Plc Executive Chairman

[e-mail]                                                                                   

James Joyce / James Bavister /Andrew de Andrade             WH Ireland Ltd NOMAD & Broker

0207 220 1666                                                                                        

Patrick d'Ancona                                                                    Vigo Communications IR

0207 3900 230                                                                                      

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

END