Corcel PLC
("Corcel"
or the "Company")
Put
Agreement
16 April
2024
Corcel Plc
(London AIM: CRCL), the Angolan-focused
exploration and production company, announces that it has been
notified that Extractions Premium & Mining Ltd. ("EXT"), which
currently holds a 21.26% interest in Corcel, has entered into a Put
Option Agreement (the "Option") with Richard Jennings ("RJ") and
has cancelled the Call Option Agreement previously announced on 29
February 2024.
Under the terms of this agreement,
RJ has the right from 16 April 2024 until 1 September 2024, to sell
up to 99,000,000 ordinary shares of the Company to EXT,
representing 4.87% of the ordinary shares currently in issue, at a
price of £0.0075 per share. This price represents
approximately a 142% premium to the most recent closing price of
the Company's shares.
For
further information, please contact:
Antoine
Karam
Corcel Plc Executive
Chairman
Development@Corcelplc.com
James Joyce / James Bavister /Andrew de Andrade
WH Ireland Ltd NOMAD &
Broker
0207 220 1666
Patrick d'Ancona
Vigo Communications IR
0207 3900 230
The information contained within
this announcement is deemed to constitute inside information as
stipulated under the Market Abuse Regulation (EU) No. 596/2014
which is part of UK law by virtue of the European Union
(withdrawal) Act 2018. Upon the publication of this announcement,
this inside information is now considered to be in the public
domain.
