Business
Signature Bonus Payments, Settlement Finalisation
Signature Bonus Payments, Settlement Finalisation.
About this update from Corcel Plc
[{"type":"text","content":"\n\n\n \nCorcel PLC\n(\"Corcel\" or the \"Company\")\n \nSignature Bonus Payments, Placing Settlement Finalisation and TVR\n14 July 2023\nCorcel Plc (London AIM: CRCL), the pan Angolan / Brazilian Oil and Gas company, with interests across battery metals mining and oil and gas, announces the payment of Risk Service Contract signature bonuses in Angola as well as the settlement of two previously announced placings.\nThe Company confirms that following the signature of the Risk Service Contracts for its three Angolan oil block licenses, it has now paid to the ANPG (Agência Nacional de Petróleo, Gás e Biocombustíveis) $821,000 in required signature bonuses. \nFunding Updates: \nThe Company also confirms that, further to the fundraising announced on 28 March 2023, it has now received the full proceeds of £1,055,515 and that accordingly the final tranche of the placing (the \"March Shares\"), 130,147,004 ordinary shares will now be issued. \n \nThe Company also confirms that, further to the fundraising announced on 24 May 2023, it has received £226,958 in cash to date, completing tranches 1 and 2, and that accordingly 50,489,500 relating to tranche 1 and an additional 6,250,000 shares relating to tranche 2 (the \"May Shares\") will now be issued. As announced on 24 May 2023 and 2 June 2023 application has been made for 50,489,500 new ordinary shares, to be admitted to trading on AIM and it is expected that their admission to AIM will take place on or around 19 July 2023. Additional announcements will be made regarding tranches 3 and 4 of this fundraising when they come due. \n \nTotal Voting Rights:\nApplication will be made for the March Shares and the May Shares, 136,397,004 new ordinary shares in total, to be admitted to trading on AIM and it is expected that their admissions to AIM will take place on or around 19 July 2023. \nFollowing Admission the Company's total issued share capital will consist of 1,460,583,238 Ordinary Shares, with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 1,460,583,238 from Admission. This figure may be used by shareholders in the Company as the denominator for the...