Business
Posting of AIM Admission Document
Posting of AIM Admission Document.
About this update from Coro Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0768F Saffron Energy PLC 16 February 2018 \n\n16 February 2018\n \nSaffron Energy plc\n \n(\"Saffron Energy\" or the \"Company\")\n \n \nPosting of AIM Admission Document\nAppointment of Director\nRestoration of trading on AIM\nOn 5 October 2017, the Company announced that it had entered into non-binding heads of terms with each of Sound Energy plc (\"Sound Energy\") and ASX listed Po Valley Energy Limited (\"PO Valley Energy\" or \"PVE\") under which it was proposed that Saffron would acquire both Sound Energy's and Po Valley Energy's portfolio of Italian interests and permits through the acquisition respectively of Sound Energy Holdings Italy Limited (\"SEHIL\") of Po Valley Operations Pty Limited (\"PVO\") (he \"Acquisitions\") and to seek readmission to AIM under its proposed new name of Coro Energy plc. Pursuant to Rule 14 of the AIM Rules for Companies, the Company's shares were suspended from trading pending publication of an AIM admission document.\nSubsequent to the suspension of trading in the Company's shares, the Company announced on 22 January 2018 that it had entered into binding acquisition agreements with Sound and Po Valley and outlined the Group's new pan Euro-Asian gas strategy. On the same day, the Company also announced that it had raised £561,138 before expenses and, subject, inter alia, to Shareholder consent, a further £13,438,862 in each case through the issue or ordinary shares in the Company at a price of 4.38 pence per share.\nThe Company is delighted to announce that it has today published a circular to Shareholders comprising an AIM admission document, that is today being posted to Shareholders and is available on the Company's website, www.saffronenergy.co.uk.\nAs a result of the publication of the AIM admission document, trading in the Company's shares will be restored to trading with effect from today, 16 February 2018 at 7:30 am.\nShareholders are being invited to attend a general meeting on 29 March 2018 at the offices of Grant Thornton, 30 Finsbury Square, London EC2P 2YU at which they will be asked to consider and, if thought appropriate, vote in favour of resolutions necessary for the Saffron Energy board to implement the acquisitions and fundraising, and to approve a change of name to Coro Energy plc. The Company has received an irrevocable undert...