Business
Results of Placing and Notice of General Meeting
Results of Placing and Notice of General Meeting.
About this update from Coro Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0214Q\n Coro Energy PLC\n 23 February 2021\n \n \n \n \n THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT (THE \"ANNOUNCEMENT\") IS DEEMED BY THE GROUP TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS APPLIED IN THE UNITED KINGDOM. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n \n \n \n 23 February 2021\n \n \n \n \n \n Coro Energy plc\n \n \n (\"Coro Energy\" or the \"Company\")\n \n \n \n \n \n Results of the Placing and Notice of General Meeting \n \n \n \n \n \n Further to the announcement of 22 February 2021 of the acquisition of GEPL and the proposed placing (the \"Placing Announcement\"), Coro Energy, \n the South East Asian energy company focused on supporting the regional transition to a low carbon economy,\n announces the results of the Placing which, together with the Open Offer, will result in gross proceeds of up to £5.0 million being raised.\n \n \n \n \n \n Definitions\n \n \n Other than where defined, capitalised terms used in this announcement have the meanings given to them in the Placing Announcement.\n \n \n \n \n \n Results of the Placing\n \n \n Pursuant to the Placing Announcement, the Company is pleased to announce that a total of 1,125,000,000 Placing Shares have been successfully placed at the Placing Price of 0.4 pence per Ordinary Share. Pursuant to the Placing, the Company has raised gross proceeds of £4.5 million (net proceeds of approximately £3.8 million after expenses, including costs related to the Acquisition). Additional proceeds of up to £0.5 million are to be raised pursuant to the Open Offer.\n \n \n \n \n \n The issue of the Placing Shares, and completion of the Acquisition, remain subject to, inter alia, the approval by Shareholders of the Resolutions giving authorities to the Directors to issue, inter alia, the Placing Shares free of pre-emption rights.\n \n \n \n \n \n Gneiss Energy and Tennyson Securities acted as lead bookrunners in connection with the Placing.\n \n \n \n \n \n General Meeting and Open Offer\n \n \n A General Meeting to consider and approve the Resolutions is expected to be held at the offices of Watso...