Publication of Bond Proposals

14 January 2025

Coro Energy Plc

("Coro" or the "Company")

Publication of proposals in relation to redemption and conversion of Bonds

Coro Energy Plc, the South East Asian energy company with a natural gas and clean energy portfolio, announces, further to the announcement of 9 January 2025 in respect of the Company's Luxembourg listed EUR 22.5 million 10.0% secured notes (with interest a total of EUR 29.2 million) ("Bonds"), the Company has published proposals for the redemption and conversion of the Bonds (the "Bond Proposals") to the holders of the Bond (the "Bondholders"). 

Meetings of the Bondholders ("Bondholder Meetings") have been convened to be held at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London, EC4R 3TT, at 10.00 a.m. (GMT) on 5 February 2025 in respect of the Tranche A Notes and at 10.15 a.m. (GMT) on 5 February 2025 (or after the completion of the Tranche A Notes Meeting (whichever is later)) in respect of the Tranche B Notes  to consider the following proposals:

·    the deemed repayment of 75% of the principal amount of the Bonds together with all accrued interest; and

·    the conversion of the balance of principal outstanding under the Bonds into 311,617,085 New Ordinary Shares ("Bond Conversion Shares") at the Issue Price.

The Bond Proposals will be conditional, inter alia, on:

·      the Shareholder Resolution being duly passed;

·      the Bondholders passing the requisite resolutions at the Bondholder Meetings; and

·     Admission of the Bond Conversion Shares, Subscription Shares and Retail Offer Shares to trading on the AIM market of the London Stock Exchange.

A copy of the circular sent to Bondholders containing the Bond Proposals is available on the Company's website at www.coroenergyplc.com

Capitalised terms used but not defined in this announcement shall have the meaning given to them in the Company's announcement of 9 January 2025.

For Further Information

Further information on the Company can be found on its website at www.coroenergyplc.com