Business
Posting of Supplementary AIM Admission Document
Posting of Supplementary AIM Admission Document.
About this update from Coro Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9045G Saffron Energy PLC 07 March 2018 \n\n7 March 2018\n \nSaffron Energy plc\n \n(\"Saffron Energy\" or the \"Company\")\n \nConfirmation of Funding\nPosting of Supplementary AIM Admission Document\nRestoration of trading on AIM\nFurther to the Company's announcement of 28 February 2018, the Company is delighted to confirm the full subscription under the Company's £13.4 million equity fundraising and the posting today of a Supplementary AIM Admission Document. \nAs a result of the publication of the Supplementary AIM Admission Document, trading in the Company's Ordinary Shares will be restored with effect from 07.30 this morning, Wednesday 7 March 2018.\nThe principal change to the arrangements described in the original AIM Admission Document published on 16 February 2018 is to reflect the revised assets that Saffron will own, assuming that Shareholders pass the relevant Resolutions at the General Meeting that will be held, as previously advised, on 29 March 2018 at the offices of Grant Thornton, 30 Finsbury Square, London EC2P 2YU. The Supplementary AIM Admission Document also contains a revised Competent Person's Report which is also available on the Company's website.\nAll other key aspects of the Transaction remain unchanged, including the proposed acquisition of Sound Energy Holdings Italy Limited (\"SEHIL\"), the £13.4 million fundraising pursuant to the Placing and Subscription, the Board and management of the Group and its pan Euro-Asian gas strategy.\nThe Company's 50 per cent. shareholder, Po Valley Energy Limited (\"PVE\") has agreed to a 12 month lock in, which prohibits the disposal of its shares in the Company save in certain limited circumstances, including a distribution in specie of the shares it holds in the Company to its own underlying shareholders which the Company understands PVE intends to undertake (subject to approval of its shareholders) shortly after Admission. \nShould Shareholders pass the relevant Resolutions, the Company's Ordinary Shares will be re-admitted to trading on AIM on or around 9 April 2018 under its proposed new name of Coro Energy plc.\nThe Supplementary AIM Admission document is available on the Company's website, www.saffronenergy.co.uk. The principal changes contained within the Supplementary AIM Admission Document are also set ou...