Coro Energy Share Discussion Threads

[digger2779] 23/2/2021 17:11

They will no doubt have the institutions voting for them as they stand to gain the most. As at 21st Dec 2020 we have

Lombard Odier Asset Management (Europe) Limited - 185,085,158 - 22.94% per cent.
CIP Merchant Capital Ltd - 150,684,929 - 18.67% per cent.
Conrad Petroleum Ltd - 54,814,533 - 6.79% per cent.
Lombard have applied for 112,500,000 shares in the placing so they are keen to see this through.

[wright10_10] 23/2/2021 16:54

Wish I’d sold a few weeks ago when it went to 0.8

[currypasty] 23/2/2021 16:48

I don't think they have many shares at the moment... maybe will have a lot of cheap ones if the vote goes through..


Existing holders, ie the ones eligible to vote need to throw this out... some here are down 90%, and to hand over the Duyung asset for a song is not on.

[digger2779] 23/2/2021 16:34

curry - my NO vote is nailed on. Trouble is they and their cronies have more voting rights than all of us put together.

[currypasty] 23/2/2021 16:00

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.


A General Meeting to consider and approve the Resolutions is expected to be held at the offices of Watson Farley & Williams LLP, 15 Appold Street, London, EC2A 2HB at 11.00 a.m. on 15 March 2021. A circular convening the General Meeting and describing the Open Offer to existing Shareholders is expected to be posted to Shareholders on 26 February 2021 and will be made available on the Group's website at www.coroenergyplc.com .




vote NO

[wright10_10] 23/2/2021 15:58

What’s the best plan of action here? Hold out for the long term or just sell now?

[c2b] 23/2/2021 15:28

Without more checkable information about Mark Hood and Global Energy and some specifics about the schemes they can bring on board and finance, and their potential profitability this after-hours deal and announcement is completely unacceptable. It's a bit like the Eco Atlantic deal, there's an awful lot of trust involved and for existing shareholders it's a complete change of direction. I've sold and am out - disgusted!

[digger2779] 23/2/2021 15:13

Why are people buying this when you can wait for it to drop below .004 once the market is awash with the new shares? I am assuming that Duyung isn't happening soon?

[helpfull] 23/2/2021 08:42

Tickety Tock. Head on the block. Sorry, I was wrong. When you start talking in billions it is easy to be a few hundred million out. The RNS today informs shareholders there are to be 1,125,000,000 new Placing shares. Add on the 142,500,000 shares given in payment for the acquisition and the 807,000,000 shares already in circulation and that will come to 2,074,407,541. If the £0.5 Open Offer is successful that will add another 125,000,000 shares. A grand total of 2,200,000,000 shares. A 2.7 fold increase in shares in issue whilst shareholders were sleeping soundly. 63% of those shares have been bought at 0.4p. No "lock ins" have been announced. When the shares are pumped on occasions traders will inform shareholders that there is a tight squeeze or tiny free float. Don't be fooled. These new shares need to be passed on to shareholders at profit. £3,800,000 net proceeds from the gross £4,500,000 placing. £700,000 or 15%+ in costs. Says it all. Be careful.

[digger2779] 23/2/2021 08:19

Is that 700k to raise the 4.5 million or does it include the 570K to buy the company that made a £300 loss? They should have reversed CORO into that instead of royally shafting us. Wonder what the take up on the open offer will be? Oh yes please I'll have some to cover your wages while you fart about on Duyung.
Top of the losers board I see. Status quo then. Time to hit their twitter feed and let them know how pleased we are.

[newforestlad] 23/2/2021 08:10

A kick in the nuts, then.

[wr63] 22/2/2021 21:33

I don't know of any incentives where the target for 3 years time is to be worse than today.How can they get away with this, 3 years time have an share price lower than today but get huge rewards.Corporate pigs noses in the trough at our expense.

[chicken charlie] 22/2/2021 20:19

What price tomorrow

[go_baby_go] 22/2/2021 20:09

This timing, says Duyung sale must be close. Reward the Company's executives

[wedgie74] 22/2/2021 20:04

So as long as the share price stays above 0.46p in three years time they can make more money, what a great return for us share holders

[currypasty] 22/2/2021 20:01

the Company has today issued a total of 22,500,000 options to subscribe for new ordinary shares in the Company (the "Options") to certain of the Company's executives. The Options will vest on the third anniversary of the date of grant (the "Vesting Date"), provided the grantee remains employed by the Company and that the mid-market closing price per Coro ordinary share on the last day of the three year vesting period is equal to or higher than 0.46 pence


haven't they done well, great timing

[wedgie74] 22/2/2021 19:58

New rns about an incentive plan for the execs, how about you just do the f@@@ing job your employed to do

[helpfull] 22/2/2021 18:52

Tickety Tock. Head on the block. And breathe. Finally the cash raise arrives. £3,000,000 at 0.4p. Does that equate to 750,000,000 new shares? Oh, and add in 142,500,000 shares issued to buy the proposed aquisition. Currently there are 807,000,000 shares in issue so that makes just under 1,700,000,000 shares in Coro Energy going forward. And add in a "New Long Term Incentive Plan" where the "maximum number of awards which can be issued under the Plan from time to time is 10% of the Company's issued share capital on the date of grant of the award". Wow! What contempt. But it would be rude not to.

Of course the sale of the unsaleable Italian assets is a priority. Yeah right. Probably occur at the same time as the Duyung sale. Be careful.

[nametrade] 22/2/2021 18:10

Mark
Hood

Mark has lead energy projects in various sectors from Renewables, Oil and Gas and Nuclear for more than 20 years.

With an exceptional career managing energy projects spread across some of the most geographically diverse areas in the world, Mark has managed Green and Brownfield development projects, organisational change as well as M&A projects.



I take it he is working for nothing as it was only a few months ago they sacked JM.

[currypasty] 22/2/2021 18:04

we know now why price has been week.. that 500k seller did well today

[pugugly] 22/2/2021 18:01

" at 0.4 pence per share (the "Placing Price") to new and existing investors (the "Placing"). " Looks like a great stuffing = (imo) for anyone who bought in the last 6 weeks -

[johnswan193] 22/2/2021 17:55

Issued at 0.4p.