Business
Issue of Equity, Director Shareholdings and TVR
Issue of Equity, Director Shareholdings and TVR.
About this update from Coro Energy Plc
[{"type":"text","content":"\n \nRNS Number : 8254B Coro Energy PLC 04 February 2020 \n\n4 February 2020\n \nCoro Energy plc\n(\"Coro\" or the \"Company\")\n \nIssue of Equity, Director/PDMR Shareholdings and Total Voting Rights\n \nCoro Energy plc, the Southeast Asian focused upstream oil and gas company, announces it has issued a total of 3,737,031 new ordinary shares of 0.1p each in the Company (the \"New Ordinary Shares\") to certain employees of the Company, at an effective issue price of 1.65 pence per new Ordinary Share, in respect of performance bonuses for the financial year ended 31 December 2019. \n \nApplication will be made to the London Stock Exchange plc for the New Ordinary Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 7 February 2020.\n \nThe issue of the New Ordinary Shares includes the issue of 2,248,485 New Ordinary Shares to James Menzies, Chief Executive Officer and 1,156,364 New Ordinary Shares to Andrew Dennan, Chief Financial Officer, in lieu of the post-tax value of their respective cash performance bonus awards for the 2019 financial year of £70,000 and £36,000 respectively. \n \nFollowing the issue of the New Ordinary Shares, Mr. Menzies will be interested in 9,656,324 Ordinary Shares in the Company, representing 1.22 per cent. of the Company's issued ordinary share capital, and Mr. Dennan will be interested in 4,280,194 Ordinary Shares in the Company, representing 0.54 per cent. of the Company's issued ordinary share capital. \n \nThe notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further details in relation to the issue of the New Ordinary Shares.\n \nFollowing the issue of the New Ordinary Shares, the Company will have 793,322,635 Ordinary Shares in issue with no shares held in treasury. This is the total number of voting rights in Coro and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.\n \nRelated Party Transaction\n \nThe issue of New Ordinary Shares, in lieu of cash bonus payment...