Result of General Meeting

RNS Number : 4332J

Saffron Energy PLC

29 March 2018

 

29 March 2018

Saffron Energy plc

("Saffron" or the "Company")

Result of General Meeting

Saffron, the pan Euro Asian gas explorer to be renamed Coro Energy plc, announces that the resolutions proposed at the General Meeting held earlier today were duly passed.

As a result of Shareholders passing the resolutions, the Company can now complete the acquisition of Sound Energy Holdings Italy Limited, as described in the Supplementary AIM Admission Document published on 7 March 2018 and to complete the placing of £14 million before expenses originally announced on 22 January 2018.

The Company will now award the warrants and options described in the Supplementary AIM Admission Document along with the 25 million options to Chief Executive elect, James Menzies, as announced on 22 March 2018.

The Company looks forward to being re-admitted to AIM on 9 April 2018 under its new name of Coro Energy plc with an issued share capital of 716,809,735 Ordinary Shares and an anticipated opening market capitalisation of £31.4 million.

Further information may be found within the Company's Supplementary AIM Admission Document which can be found on its website www.saffronenergy.co.uk.

At the General Meeting, the Company gave a presentation on its South-East Asian strategy, a copy of which will be available on the Company's website.

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:

Saffron Energy plc / 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]

 

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