Update re Vietnamese Solar Portfolio Exclusivity

RNS Number : 9576Q

Coro Energy PLC

01 November 2021

 

1 November 2021

Coro Energy Plc

("Coro" or the "Company")

Update on Proposed Acquisition of Vietnamese Solar Portfolio

Coro Energy Plc, the South East Asian energy company focused on leading the regional transition to a low carbon economy, announces an extension of the exclusivity period agreed with the Company's Vietnamese rooftop solar project partner, Vinh Phuc Electrical Mechanical Installation Co Ltd. ("VPE").

Continuing in-country COVID-19 restrictions, have further created extended limitations on being able to formally lodge papers with the Vietnamese government.  The Company now expects a definitive joint venture agreement for the JV to be capable of entry by the end of December 2021. Accordingly, the Company and VPE have agreed to extend the exclusivity period under the Heads of Terms first announced by the Company on 12 July 2021 until 31 December 2021.

Further announcements will be made, as appropriate.

Coro Energy plc Mark Hood, Chief Executive Officer	Via Vigo Consulting Ltd
Cenkos Securities plc (Nominated Adviser) Ben Jeynes Katy Birkin	Tel: [phone]
Vigo Consulting Ltd (IR/PR Advisor) Patrick d'Ancona Chris McMahon	Tel: [phone]
WH Ireland (Broker) Harry Ansell Katy Mitchell	Tel: [phone] / 44 (0)113 394 6618

 

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