Share Name Share Symbol Market Type Share ISIN Share Description
Coro Energy LSE:CORO London Ordinary Share GB00BDCFP425 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 2.05p 476,057 08:00:00
Bid Price Offer Price High Price Low Price Open Price
2.00p 2.10p 2.05p 2.05p 2.05p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.23 -6.25 -4.09 14.7

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Date Time Title Posts
13/3/201915:03CORO ENERGY PLC - SOU3157
15/2/201912:06corero plc a growth story1,830

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Coro Energy Daily Update: Coro Energy is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker CORO. The last closing price for Coro Energy was 2.05p.
Coro Energy has a 4 week average price of 1.95p and a 12 week average price of 1.95p.
The 1 year high share price is 4.45p while the 1 year low share price is currently 1.95p.
There are currently 718,521,764 shares in issue and the average daily traded volume is 1,244,506 shares. The market capitalisation of Coro Energy is £14,729,696.16.
legin3: dmk 1198 on sound facebook 1 coro share for 5 .4 sound sharea read article dated 7th nov click on read more...
damanko: I can only admire you guys, all the promises, all the changes in management. All the disappointments, all the massive losses - never mind the company - just the share price since Mondas promised so much..... Are there any realists left here?
mollymolly: This Company has always had promise. I'm holding my shares and hoping. Corero has always managed to spin a decent story, but never (so far) produced results. I can't see how the share price will move until management PROVES themselves.
spurious: Hi Mags Glad to see youve bought back in. I am confident my 85p target will be reached next year, given a reasonable market and I do not often do share price predictions.My last prediction on a BB and Roy may remember this was for Indigovision to hit 100p when 30p They slightly overperformed and hit high of £11 within 2 years! I will be happy for a similar situation PS anyone who is bored over the next few days can check back the old (Huge Pants) IND bb and verify this.A great thread to be involved in and shows how patience is key and how the small investor can make it big. About 7 years ago I think !
spurious: Bought 40000 this morning @33p. Business Systems is well ahead of target and continues to forge ahead. Exciting change in that business not only ahead of target but now being spread throughout the year rather than set months also importantly Co is continuing to increase market share. Company seem at an advanced stage for crucial first stage in building network security business and am hopeful we may hear news by year end.I am hopeful the wait will be both exciting and transformational for company and share price It is worth remembering we are now free of the onerous lease costs assosciated with financial markets office rental Approx £300000pa from memory which will benefit the bottom line substantially and I would look for a PBT for the year even without full contribution from financial markets. If Business Systems continues to forge ahead then it surely must be worth at least 6/10 million over the next 24 months for a business which was perceived to be valued closer to £1million at the time of recent fundraising /investment. A shrewd piece of business indeed but one all shareholders can share in going foreward I firmly believe we will see a share price in excess of 85p within 12 months as this was the approx price after last share consolidation. At that time we had 4 million of debt and a co with substantial losses. Although we now have more shares in issue we are debt free with a substantial war chest and business systems has already achieved annual target and continues to increase its penetration of a bouyant market Most importantly we have a proven and highly successful management team with strong institutional backing via Herald and Investec and supportive shareholders so going forward funding will not be an issue Regards to all long termers and good to hear some familiar posters still around SP
25october1969: If you read the announcement you will see that Mark picked up 64p average per share as consideration for the sale of his 150k of Corero shares albeit the 64p is based on the price of the Rivington shares he received plus 12k in cash. I guess he has faith in Rivington outperforming Corero plus he can influence the Rivingto share price by performing. I suspect that there was also a desire to cut ties with Corero and move on. My reason for buying is that the starting point once the deal is completed is a net asset value of 25p per share of which 75% if I remember correctly is in cash. So I am happy to pay a premium for the management who have said they they want to do deals using Corero equity ie they have a vested interest in (1) keeping Corero listed as no vendor would want shares in an unlisted company and (2) getting the Corero share price high so that it is a more valuable "currency" to use in exchange for shares in any target company. Only time will tell!
damanko: Corero PLC ("Corero" or the "Company") Proposed amendment to the terms of the existing 8 per cent convertible unsecured redeemable loan stock 2011 ("CULS") and capital reorganisation Corero today announces a proposal to amend the terms of the CULS to extend the redemption date, enhance the conversion rights and reschedule the annual coupon payable by the Company for the remainder of the life of the CULS. This is designed to improve the Company's liquidity and debt maturity profile. In addition, the Company also announces a Capital Reorganisation. A circular has been sent to the Company's shareholders and to the holders of CULS to convene an Extraordinary General Meeting and CULS Meeting to consider and, if thought fit, approve the resolutions required to effect the Proposed Amendments of the CULS and the Capital Reorganisation (the "Circular"). In addition, the Company's annual report and accounts for the year ended 31 December 2008 have also been posted to shareholders and both documents are available from the Company's registered office, 3rd Floor, 3 London Wall Buildings, London Wall, London EC2M 5SY and to download from the Company's website Background to and reasons for the Proposed Amendments As set out in the Company's trading statement dated 20 January 2009 and the Chairman's Statement in the preliminary results announcement dated 26 March 2009, the Company's Business Systems division's major application, Resource, requires additional investment in order to maintain its competitive position and to take advantage of future market opportunities. As a first step towards accumulating the necessary capital the Directors propose to amend the terms of the CULS as set out below, which will assist working capital by effectively reducing the annual coupon until 2012, as more fully described below. The Directors believe that this measure will provide the required additional investment to start the Resource development. The effect on cash flow for the next three years following the implementation of the proposed amendments to the terms of the CULS, will make an additional GBP480,000 of capital available to the Company over that period. The Board will finalise the cost of the Resource development over the next few months and intends to finance additional requirements from working capital or an additional short term loan in which the directors intend to participate. As part of the change to the terms of the CULS, the final redemption date will be deferred to 2015 which will relieve the Company of the burden of repaying GBP4,000,000 in 2011. This is critical both to enable the Resource development to go ahead and to strengthen the Company's position in commercial negotiations with current and potential customers. Proposed amendments to the terms of the CULS The principal amendments to the terms of the CULS are as follows: 1. The deferment of the redemption date of the CULS from 31 October 2011 to 30 June 2015. 2. The rescheduling, with effect from and including 1 January 2009, of the annual 8 per cent. interest payable on the CULS. It is proposed that for the three year period from 1 January 2009 to 31 December 2011 (the "First Interest Period"), the CULS will continue to bear interest on the principal outstanding sum at the rate of 8 per cent. per annum but only 50 per cent. of such interest will be paid (the "Paid Interest"). Payment of the remaining 50 per cent. of such interest (the "Deferred Interest") will be deferred and paid on the third anniversary of the date on which such Deferred Interest accrued (each date on which such Deferred Interest accrued being an "Accrual Date"). During the three and a half year period from 1 January 2012 to 30 June 2015 (the "Second Interest period") the CULS will continue to bear interest on the principal outstanding sum at the rate of 8 per cent. per annum and such interest payments will be made on the relevant interest payment date in the Second Interest Period (i.e. not deferred). As a result, notwithstanding that the CULS continue to bear interest on the principal outstanding sum at the rate of 8 per cent. per annum, a CULS holder who holds CULS for the entire remaining life of the CULS will receive such payments by the Company as if the CULS bore interest at 4 per cent. per annum during the First Interest Period and 12 per cent. per annum during the Second Interest Period (save that the final payment of Deferred Interest shall be made on 31 December 2014, such that the final payment on 30 June 2015 will represent only the interest for the six month period at 8 per cent. per annum, and will not include any additional deferred interest). Please note that the effect of the proposed amendments is to defer the payment of 50 per cent. of the interest payable on the CULS in respect of the current interest period ending on 30 June 2009, with the deferred interest payable on 30 June 2012. Deferred Interest will be paid on the third anniversary of the relevant Accrual Date to the CULS holder who was on the register on the relevant Accrual Date. Accordingly, any transferee of any CULS will not receive any Deferred Interest which accrued prior to the date of transfer. No additional interest will be paid on the Deferred Interest. 3. The enhancement of the conversion rights from four Existing Ordinary Shares for every GBP1 nominal of CULS to 12.5 Existing Ordinary Shares for every GBP1 nominal of CULS, which equates to a conversion price, prior to the Capital Reorganisation, of 8p. Following the Capital Reorganisation, the enhanced conversion rights will be adjusted to 0.4167 New Ordinary Shares for every GBP1 nominal of CULS, resulting in an effective conversion price of 240p per New Ordinary Share. As the CULS Resolution is subject to and conditional upon approval of the EGM Resolutions, the proposed amendments to the CULS, as set out in the notice of the CULS Meeting, reflect the enhanced conversion rights as adjusted by the Capital Reorganisation. Any fractions arising from the conversion of the CULS will be aggregated and allotted to a trustee who will sell the shares for the benefit of the relevant CULS holder. However, if the net proceeds of such sale amount to less than GBP2 in respect of any one holding, the net proceeds will be retained by the Company. 4. The reduction of the price of an Existing Ordinary Share at which the Company has the right to compel CULS holders to convert their CULS into Ordinary Shares from GBP1 to 32p. Following the Capital Reorganisation, this price will be adjusted to GBP9.60. As the CULS Resolution is subject to and conditional upon approval of the EGM Resolutions, the proposed amendments to the CULS, as set out in the notice of the CULS Meeting, reflect the price as adjusted by the Capital Reorganisation. Takeover Code matters Foresight Technology VCT plc, New City Investment Managers Limited and AXA Framlington Group Limited have each undertaken not to convert any number of CULS to the extent that to do so would create any obligation on it (or in the case of Foresight Technology VCT plc, any party with whom it is considered to be acting in concert) to make an offer for the Company under Rule 9 of the Takeover Code. Capital Reorganisation The current mid-market share price is below the present nominal, or par, value of the Existing Ordinary Shares. Company law prohibits a company from issuing shares at a discount to the nominal value of its shares. The Proposed Amendments to the CULS would result in the new conversion price of the CULS being below the current nominal value of a Corero Existing Ordinary Share. As a result, in order that the Proposed Amendments to the CULS may be made, it is necessary to reduce the nominal value of the Company's authorised and issued Existing Ordinary Shares. Accordingly, the Directors propose to carry out the Capital Reorganisation on the following basis: (a) every 30 Existing Ordinary Shares in issue at the Capital Reorganisation Record Time will be consolidated into one new ordinary share of GBP3 in the capital of the Company; (b) each new ordinary share of GBP3 will be subdivided into and reclassified as one New Ordinary Share of 1p and one Deferred Share of GBP2.99; and (c) each of the authorised and unissued Existing Ordinary Shares will be subdivided into and reclassified as 10 New Ordinary Shares. Any fractions arising from the Capital Reorganisation will be aggregated and sold for the benefit of the Company. The rights attaching to the New Ordinary Shares will, apart from the change in nominal value, be identical in all respects to those of the Existing Ordinary Shares. The Capital Reorganisation will not affect the voting rights of holders of Existing Ordinary Shares. Nevertheless, certain amendments to the Company's articles of association are required to effect the Capital Reorganisation, to refer to the change in nominal value of the Ordinary Shares, and to reflect the rights of the Deferred Shares (which are referred to below). Application will be made for admission of the New Ordinary Shares to trading on AIM. It is expected that the dealing and settlement in CREST in the Existing Ordinary Shares will continue until the close of business on 29 June 2009. Subject to the necessary approval at the EGM, Admission of the New Ordinary Shares is expected to occur at 8.00 a.m. on 30 June 2009. Existing share certificates will cease to be valid following the Capital Reorganisation and new share certificates will be issued on 7 July 2009. Shareholders who hold their Existing Ordinary Shares in uncertificated form will have their CREST accounts credited with the New Ordinary Shares on 30 June 2009 or as soon as practicable after Admission. The Deferred Shares are required to be created for technical reasons in order to maintain the aggregate nominal value of the Company's share capital after the Capital Reorganisation and will effectively be valueless. The Deferred Shares will have no voting or dividend rights and, on a return of capital, will have the right to receive the amount paid up thereon after the holders of the New Ordinary Shares have received, in aggregate, the amount paid up thereon plus GBP10,000,000 per New Ordinary Share. The Deferred Shares will not be transferable (save with the consent of the Directors) and no share certificates will be issued in respect of them. The Company may, at any time, transfer the Deferred Shares to any other person or buy back the Deferred Shares, for an aggregate payment of 1p. It is the Board's intention, at the appropriate time, to effect a repurchase of the Deferred Shares, to make an application to the High Court for the Deferred Shares to be cancelled, or for the Company to cancel the Deferred Shares, with the approval of its Shareholders. Expected timetable of principal events Despatch of the Circular 4 June 2009 Latest time and date for receipt of EGM Forms of 10.30 a.m. on 27 June 2009 Proxy Latest time and date for receipt of CULS Forms of 11.00 a.m. on 27 June 2009 Proxy EGM 10.30 a.m. on 29 June 2009 (or such later time as the AGM shall have concluded or been adjourned) CULS Meeting 11.00 a.m. on 29 June 2009 (or such later time as the EGM shall have concluded or been adjourned) Capital Reorganisation Record Time 6.00 p.m. on 29 June 2009 (or such later time and date as the Board (or a duly authorised committee of the Board) may determine) Capital Reorganisation becomes effective and 30 June 2009 trading of New Ordinary Shares expected to commence on AIM CREST account credited with New Ordinary Shares 30 June 2009 Certificates issued in respect of New Ordinary 7 July 2009 Shares
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