Saffron Energy PLC Result of General Meeting (4332J)

TIDMSRON

RNS Number : 4332J

Saffron Energy PLC

29 March 2018

29 March 2018

Saffron Energy plc

("Saffron" or the "Company")

Result of General Meeting

Saffron, the pan Euro Asian gas explorer to be renamed Coro Energy plc, announces that the resolutions proposed at the General Meeting held earlier today were duly passed.

As a result of Shareholders passing the resolutions, the Company can now complete the acquisition of Sound Energy Holdings Italy Limited, as described in the Supplementary AIM Admission Document published on 7 March 2018 and to complete the placing of GBP14 million before expenses originally announced on 22 January 2018.

The Company will now award the warrants and options described in the Supplementary AIM Admission Document along with the 25 million options to Chief Executive elect, James Menzies, as announced on 22 March 2018.

The Company looks forward to being re-admitted to AIM on 9 April 2018 under its new name of Coro Energy plc with an issued share capital of 716,809,735 Ordinary Shares and an anticipated opening market capitalisation of GBP31.4 million.

Further information may be found within the Company's Supplementary AIM Admission Document which can be found on its website www.saffronenergy.co.uk.

At the General Meeting, the Company gave a presentation on its South-East Asian strategy, a copy of which will be available on the Company's website.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

 
 
 Saffron Energy plc / Coro Energy plc 
                                             [e-mail] 
  Sara Edmonson, Chief Executive Officer 
                                              [e-mail] 
  James Parsons, Non-Executive Chairman 
 
 Grant Thornton UK LLP (Financial and             Tel: [phone] 
  Nominated Adviser) 
 
  Colin Aaronson 
 
  Jen Clarke 
 
  Harrison J Clarke 
 Turner Pope Investments (TPI) Ltd               Tel: [phone] 
  (Broker) 
                                                      [e-mail] 
  Ben Turner 
 
  James Pope 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 29, 2018 07:35 ET (11:35 GMT)