Corcel PLC Loan Conversion, Directors Dealings and TVR (2743Y)

TIDMCRCL

RNS Number : 2743Y

Corcel PLC

02 January 2024

Corcel PLC

("Corcel" or the "Company")

Loan Conversion - Directors Dealings - TVR

2 January 2024

Corcel Plc (London AIM: CRCL), the Angolan focused exploration and production company, announces that it has received notice of the conversion of a portion of its outstanding convertible loan notes as originally announced on 18 September 2023.

Convertible Loan Note Conversion:

The Company has been notified of the conversion of GBP250,000 of outstanding loan notes and associated interest from its lender, Extractions Premium & Mining Ltd ("EXT"), into 32,061,643 new ordinary shares of the Company at a price of GBP0.008 (the "Conversion"). The principal balance of the convertible loans note following conversion is GBP750,000.

As previously announced, EXT is 45% owned by the Executive Chairman of Corcel Plc, Antoine Karam.

Directors Dealings:

Following the Conversion, the resultant Directors' shareholdings are as follows:

 
 
 Director            Ordinary Shares         Total       % of Issued     Options    Warrants 
                                             Shares      Share Capital 
                  Direct     Indirect 
---------------  --------  ------------  ------------  ---------------  --------  ----------- 
 Antoine Karam       -      150,136,747   150,136,747       8.99%           -      94,996,305 
---------------  --------  ------------  ------------  ---------------  --------  ----------- 
 

Admission to Trading on AIM and Total Voting Rights:

Application is being made for 32,061,643 Shares to be admitted to trading on AIM, the admission of which it is expected on or around 08 January 2024.

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Shares, its issued ordinary share capital will comprise 1,670,876,345 ordinary shares.

All of the ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 1,670,876,345. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.

For further information, please contact:

Antoine Karam Corcel Plc Executive Chairman

[e-mail]

   James Joyce / James Bavister /Andrew de Andrade             WH Ireland Ltd NOMAD & Broker 

0207 220 1666

Patrick d'Ancona Vigo Communications IR

0207 3900 230

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January 02, 2024 02:00 ET (07:00 GMT)