Business
Corcel raises £3m to support strategic activity
Corcel PLC has successfully raised £3 million through an equity placing at £0.0035 per share, a price aligned with its 15-day volume-weighted average. This funding, which attracted two new significant shareholders with extensive institutional investment experience, will support strategic activities across its Angola and Brazil energy operations, including its 2D seismic programme at KON-16. The company anticipates 2026 will be a transformative year with several key milestones expected to drive substantial shareholder value. Following the admission of 857,142,858 new ordinary shares, Corcel's total issued share capital will be 8,515,475,996 Ordinary Shares. Disclaimer*
About this update from Corcel Plc
[{"type":"text","content":"\n\nThe 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.\n \nCorcel PLC\n(\"Corcel\" or the \"Company\")\n \nCorcel raises £3 million to support strategic activity on multiple fronts\n \n8 December 2025\n \nCorcel Plc (London AIM: CRCL), the Angola-Brazil-focused energy company, is pleased to announce that it has raised £3 million by way of an equity placing at £0.0035 per share, in line with the Company's 15-day volume-weighted average price.\n \nThe fundraising was conducted by Auctus Advisors and comprises two highly experienced new shareholders who, between them, bring decades of institutional investment experience and deep expertise in global capital markets. Their participation and leadership in the placing reflect strong conviction in the Company's strategy and long-term potential.\n \nScott Gilbert, Corcel's CEO, commented: \"I am delighted to welcome our two new shareholders to Corcel. Their support provides us with additional strength and optionality as we enter a pivotal phase for the Company. Operations are now underway on our 2D seismic programme at KON-16, and we continue to advance multiple workstreams as we pursue growth opportunities both in Angola and internationally across the E&P life cycle. With a busy operational schedule ahead, 2026 is set to be a transformative year for Corcel, with several key milestones expected to drive substantial growth in shareholder value.\"\n \nFundraising:\nThe Company will issue 857,142,858 new ordinary shares of £0.0001 each (\"Placing Shares\") at a price of £0.0035 per share to raise £3 million before expenses. \nApplication will be made for the Placing Shares to be admitted (\"Admission\") to trading on AIM and it is expected that Admission will occur on or around 11 December 2025\nFollowing Admission, the Company's total issued share capital will consist of 8,515,475,996 Ordinary Shares, with one voting right per Ordinary Share. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareh...