Business
Proposed Placing and Share Capital Reorganisation
Coro Energy Plc is proposing to raise approximately £1 million in gross proceeds through a placing of new ordinary shares at 4 pence per share, with net proceeds of around £940,000 intended to accelerate growth in the Vietnamese C&I rooftop solar market. This placing is conditional on shareholder approval of a share capital reorganisation, which involves consolidating every ten existing ordinary shares into one new ordinary share of 5 pence, followed by a sub-division into one new ordinary share of 1 pence and one deferred share of 4 pence. A General Meeting is scheduled for January 22, 2026, to approve these proposals, with admission of the new shares to AIM expected on January 23, 2026. One director, Tom Richardson, intends to subscribe for 625,000 placing shares. Disclaimer*
About this update from Coro Energy Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS \"ANNOUNCEMENT\"), IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. IN PARTICULAR, YOU SHOULD READ AND UNDERSTAND THE INFORMATION PROVIDED IN THE APPENDIX WHICH CONTAINS THE TERMS AND CONDITIONS OF THE PLACING.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.\n \n22 December 2025\n \nCoro Energy Plc\n(\"Coro\" or the \"Company\")\n \nProposed Placing and Share Capital Reorganisation\nNotice of General Meeting\nDirector Dealing\n \n\nCoro Energy Plc, the South East Asian renewable energy developer, announces that it is proposing to raise gross proceeds of approximately £1 million by way of a placing with existing and new institutional investors.\n \nPlacing\n \nThe Company is proposing to raise gross proceeds of approximately £1 million by way of a placing, by way of an accelerated bookbuild (the \"Bookbuild\") of the Company's shares by Tennyson Securities (\"Tennyson\") (\"Placing\") through the issue of New Ordinary Shares (the \"Placing Shares\") (being ordinary shares of 1p each following the Share Capital Reorganisation referred to below) at 4 pence (\"Placing Price\") per Placing Share. The Placing is conditional, inter alia, on shareholders approving the Share Capital Reorganisation (as referred to below).\nThe Placing will open immediately following the re...