Coro Energy Share Discussion Threads

[mrzippo] 01/3/2021 13:00

Whats the other board?

[blueblood] 01/3/2021 11:59

Not happy with this and have reduced recently. Fortunate that sold some at 0.7p and paid sub 0.3p. If this deals goes through what are they going to give debt funders to extend loan?

[currypasty] 01/3/2021 11:44

ive voted my shares against


looks like a scam to me

[digger2779] 01/3/2021 11:43

This was posted on the other board

"From California Joe’s blog.

Coro Energy (CORO) announced a proposed acquisition, placing and open offer. It has agreed to acquire Global Energy Partnership Limited, but all this company appears to have done is to have “screened̶1; some renewable energy projects. CORO is issuing 142,500,000 new shares (current value over £575,000) to pay for this £2 capital company, whose 31 January 2021 accounts filed at Companies House show it to be insolvent with assets of £136 and liabilities of £2,715. The placing raised £4.5 million gross, though, and a further £500,000 is hoped for from the open offer, but I suspect most of this will be used to “restructure” CORO's debt and enable a “divestment221; of the Italian assets (they’ll most likely be paying someone to take them). Along with its stablemates, Echo Energy (ECHO) and Sound Energy (SOU), CORO is one I’ve been negative about for some time and from much higher prices."

We need to vote no to this acquisition if you can call it as such.

[digger2779] 01/3/2021 11:41

Hi Toon - more people read the other board so I've taken the liberty to copy your post over there. I think TW is reporting this transaction to HMRC for starters. They are making the joint owner of GEPL the CEO of CORO if it gets voted in ffs!!!

[thetoonarmy2] 28/2/2021 22:14

From California Joe's blog. Coro Energy (CORO) announced a proposed acquisition, placing and open offer. It has agreed to acquire Global Energy Partnership Limited, but all this company appears to have done is to have "screened" some renewable energy projects. CORO is issuing 142,500,000 new shares (current value over £575,000) to pay for this £2 capital company, whose 31 January 2021 accounts filed at Companies House show it to be insolvent with assets of £136 and liabilities of £2,715. The placing raised £4.5 million gross, though, and a further £500,000 is hoped for from the open offer, but I suspect most of this will be used to "restructure" CORO's debt and enable a "divestment" of the Italian assets (they'll most likely be paying someone to take them). Along with its stablemates, Echo Energy (ECHO) and Sound Energy (SOU), CORO is one I've been negative about for some time and from much higher prices.

[helpfull] 27/2/2021 10:18

CIP Merchant Capital Ltd hold 19% of Coro Energy shares according to the latest Annual report. There are 1,125,000,000 placing shares and for their holding of 19% to be maintained they would've needed to take up 213,750,000 placing shares, an investment of £855,000. It would appear they have not. Their holding would drop to just over 7% of the new, enlarged, share Capital of the company.

Conrad Petroleum had 6.9% of the company shares at the time of the last annual report. Their share of the 1,125,000,000 placing share would be 77,625,000 shares at a cost of £310,500 to maintain their holding. It would appear they have not participated. Their holding would be below 3% of the new, enlarged, share Capital of the company.

What message does this send to shareholders if, perchance, it is true? There are no "lock ins" for the 1,125,000,000 placing shares. Only the 142,500,000 shares issued to the vendor are locked in for 18 months. These substantial shareholders, CIP Merchant Capital Ltd., Conrad Petroleum and Lombard Odier, it might be surmised, should have a good idea about the prospects for the future of Coro Energy and its share price. Be careful.

[mrzippo] 26/2/2021 21:10

The other large shareholder, CIP is not participating at all. Have the directors put hands in pockets to help? Thought not.

[nametrade] 26/2/2021 21:04

I would think there was any amount of size in the market ATM. You have been reading the latest RNS's ? Once trust has gone....its gone....

[helpfull] 26/2/2021 09:20

Tickety Tock. Head on the block. What a shock!

"Lombard Odier Asset Management (Europe) Limited ("Lombard Odier"), a related party of Coro under the AIM Rules for Companies ("AIM Rules") as a result of Lombard Odier's existing 22.9% shareholding in the Company, has subscribed for 112,500,000 Placing Shares at the Placing Price".

22.9% of the Placing Shares would work out as 257,625,000, so the large shareholder is reducing its stake from 22.9% to just over 14%. It's always a good sign when a large shareholder is reducing its holding: when the future is so bright; when an imminent sale of a major asset (Duyung not the Italian assets) is just days away; and when shareholders are informed the company is worth many, many multiples of what it is worth today. Be careful.

[johnswan193] 26/2/2021 08:32

Only if it means you can get more size than is available in the market.

[nithbank] 26/2/2021 08:17

Can't see any point in buying at .4 when the market price is .395. Can anyone??

[helpfull] 25/2/2021 08:42

Tickety Tock. Head on the block. Why did Coro Energy raise £4,500,000 and issue 1,125,000,000 shares? Because they can. Don't worry though. There is an open offer of £0.5 million for small shareholders. You'll have the chance to buy one new share at 0.4p for every six you hold. Enjoy. And why are small shareholders being included? Well, they are needed for all the cheeky little top ups and the averaging downs and the many "it would be rude not to".

And in return what do you get? A company that "incurred a net loss after tax of £300 with net liabilities of £2,600". And a new CEO. £150,000 a year and 37,500,000 options at 0.1p. And a new "Company Long Term Incentive Plan ("LTIP")".Oh and Parsons has graciously accepted the request to stay on as non-executive chairman. The cup runneth over.

Be careful.

[johnswan193] 24/2/2021 15:22

Just picked up a speculative few at 0.398p to join the club here. Good luck all!

[stewart4990] 24/2/2021 14:48

Looks like you can now buy at the placing price, may add some at this level

[stewart4990] 24/2/2021 13:19

Curry,

You referring to Lombard being the investor, they loaned funds to BPC with a guaranteed 15% profit and then afterwards when someone said they were supporting ,climate change, then stated they were going to correct matters. They stuffed BPC, watch them do the same here they will get the price up and sell the shares real quick, they will flip the lot, at least no guarantee here.

Then after all the above they go and loan funds to another oil and gas company, they will say its renewables, unreal.

DYOR. IMHO.

[digger2779] 24/2/2021 13:11

@ alexios...can you please start pumping this on your twitter account as you are doing a grand job with FDBK which is another one of my dogs. Just let me know when you start to dump FDBK thanks.

[digger2779] 24/2/2021 13:09

See today's RNS is trying to deflect investors away from the right royal rogering we got over the past 2 days.

[alexios1201] 24/2/2021 12:39

https://www.ion.ventures/news/Solid state battery Get diggingWon't take long and all electric vehicle manufacturers will be using the solid state batteries

[alexios1201] 24/2/2021 12:37

https://www.investegate.co.uk/coro-energy-plc--coro-/rns/ion-ventures-update/202102241230012053Q/Coro Energy plc, the South East Asian energy company focused on supporting the regional transition to a low carbon economy, notes the press release issued yesterday by ion Ventures Holdings Limited ("ion" or "ion Ventures"), in which the Company holds a 20.3% interest. ion Ventures is a modern utility and energy storage infrastructure developer with a project pipeline of 300MW under development across South East Asia and the UK & Ireland. ion has partnered with LiNA Energy ("LiNA"), a solid-state battery technology developer, to conduct a successful trial of LiNA's proprietary solid-state sodium battery platform that concluded last week. The trial was the final milestone of a UK Department of Business, Energy and Industrial Strategy ("BEIS") Award. Battery storage is a key component in the global transition to renewable energy sources. Batteries manage the grid volatility created by the increasing prevalence of intermittent renewable energy generation. At present, lithium-ion technology is the dominant chemistry for battery storage systems, but the LiNa Platform has potential to disrupt incumbent lithium-ion batteries in grid storage markets, and passenger and commercial electric vehicles (EVs). The LiNa team have developed the LiNa Platform, an innovative re-engineering of the commercially proven sodium-nickel-chloride (NaNiCl) chemistry. The battery is constructed from easily sourced, low-cost materials and, importantly, does not contain any cobalt or lithium. It operates at a wide range of temperatures and does not require expensive cooling systems. Furthermore, the battery chemistry is inherently safe thus making it highly attractive to a range of different sectors, including the grid storage sector targeted by ion Ventures. E4Tech, a London-based clean-tech specialist consultancy, performed an independent, strategic scoping study of stationary grid storage application based upon LiNa's technology. They identified that LiNa's platform was superior to existing lithium ion-based storage, especially in distribution, generation level storage and behind the meter owing to superior CAPEX, OPEX, Life Cycle Cost, battery self-discharge and safety metrics. ion Ventures is looking forward to supporting larger trials of the LiNa Platform technology in the near future with a view to deploying the battery into the grid storage market in the coming years. Further details can be found at ion Ventures website: https://www.ion.ventures/news 

[stewart4990] 24/2/2021 12:15

Strange the hit was yesterday at 0.004p with the placing, it was oversubscribed so those people in the placing are going to sell higher unless they forward sold which I would have thought was illegal as they knew in advance of any placing.

Therefore why sell at this price unless you have to or if you simply think its a dog.

IMHO. DYOR.