Board Appointment, Fundraising & PDMR Dealings
Corpus Resources Plc has appointed James Stenhouse as a Non-Executive Director and successfully completed a fundraising of £311,000 at £0.0001 per ordinary share, with £150,000 from external investors, £55,000 from Non-Executive Chairman Richard Glass, and £106,000 from Mr. Stenhouse. This capital injection strengthens the company's ability to pursue oil and gas opportunities, and Mr. Stenhouse brings extensive international oil and gas sector experience. Following admission of the new shares, expected around April 30, 2026, the company will have 6,336,306,795 ordinary shares outstanding.
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PDMR Dealings
Corpus Resources plc (LSE: COR) is pleased to announce the appointment of James Stenhouse as a Non-Executive Director of the Company with immediate effect.
The Company is also pleased to announce the successful completion of a fundraising, in aggregate, £311,000 (before expenses) at a price of £0.0001 per ordinary share, processed by AlbR Capital Limited.
The Board is delighted to welcome James to the Board. He brings significant technical, operational and commercial experience in the international oil and gas sector, which the Board believes will be of considerable value as the Company continues to assess and pursue oil and gas project opportunities.
The Board is also pleased with the successful outcome of the private placement, which provides the Company with additional working capital and strengthens its ability to continue progressing its strategic review of suitable oil and gas opportunities.
Appointment of James Stenhouse
- James Stenhouse is a highly accomplished well operations and oil and gas executive with over 19 years of international industry experience, with expertise in well testing, completions, production operations, field development and well operations.
He is the Founder and Managing Director of H2Oil Group, a business he has led since 2009, driving its expansion across multiple international markets, including Europe, the Middle East, Africa, Asia-Pacific and the Americas. Mr. Stenhouse has also played a leading role in technical and commercial due diligence, including support for H2Oil's acquisition of a 50% interest in the EIV-1 gas-producing licence area in Suceava, Romania.
- Stenhouse is a Member of the Petroleum Club of Romania and an active member of, and mentor within, the Society of Petroleum Engineers.
The Board believes that James's strong technical and operational background, together with his commercial and transaction experience, will materially enhance the Company's capabilities as it evaluates prospective opportunities in the upstream oil and gas sector.
Directorships and further disclosures in relation to James Stenhouse are as follows:
Current directorships / partnerships:
- H2Oil Limited (UK)
- H2Oil Well Services SRL (Romania)
- H2Oil LLC (Ukraine)
- Poseidon Energy Services Limited (UK)
Previous directorships / partnerships held within the last five years:
Valmont Energy SRL (Romania)
Save as set out above, there is no further information to be disclosed in respect of James Stenhouse pursuant to UKLR 6.4.8R.
Result of Private Placement
The Company has successfully raised £311,000 through the private placement by the issue of 3,110,000,000 new ordinary shares of £0.0001 each in the Company at a price of £0.0001 per ordinary share.
The private placement includes subscriptions of:
- £55,000 from Richard Glass, the Non-Executive Chairman of the Company; and
- £106,000 from James Stenhouse, the newly appointed Non-Executive Director of the Company.
The balance of the private placement, being £150,000, has been subscribed for by external investors.
Following the private placing, the directors will be interested in:
| Director | Ordinary Shares | % Enlarged Issued Share Capital |
|---|---|---|
| Paul Forrest | 166,666,700 | 2.63% |
| Richard Glass | 550,000,000 | 8.68% |
| James Stenhouse | 1,100,874,555 | 17.37% |
Admission and Total Voting Rights
Application will be made for the 3,110,000,000 new ordinary shares, issued pursuant to the private placement, to be admitted to the equity shares (transition) category of the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange ("Admission").
Admission is expected to become effective at 8.00 a.m. on or around 30 April 2026.
Following Admission, the Company's enlarged issued share capital will comprise 6,336,306,795 ordinary shares. The Company holds no ordinary shares in treasury. Accordingly, the total number of voting rights in the Company, following Admission, will be 6,336,306,795.
The above figure of 6,336,306,795 may be used by shareholders as the denominator for the calculations by which they may determine whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Richard Glass, Non-Executive Chairman of Corpus, commented:
"We are delighted to welcome James to the Board of Corpus. He brings deep technical expertise, international operating experience and strong commercial judgement, all of which are highly relevant to the Company's strategic direction. We are also very pleased with the support shown in the private placement, which strengthens the Company's position as we continue to pursue appropriate oil and gas opportunities."
| a) | Name | Corpus Resources Plc |
| b) | LEI | 213800NFARY38KGRAH47 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of £0.0001 each in Corpus Resources Plc |
| Identification code | GB00BD97ND60 | |
| b) | Nature of the transaction | Purchase of shares in private placing |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| £0.0001 | 550,000,000 Ordinary Shares | |
| d) | Aggregated information | |
| - Aggregated volume | 550,000,000 | |
| - Price | £55,000 | |
| e) | Date of the transaction | 23/04/2026 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | James Stenhouse |
| 2 | Reason for the notification | |
| a) | Position/status | Non-Executive Director |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Corpus Resources Plc |
| b) | LEI | 213800NFARY38KGRAH47 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of £0.0001 pence each in Corpus Resources Plc |
| Identification code | GB00BD97ND60 | |
| b) | Nature of the transaction | Purchase of shares in private placing |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| £0.0001 | 1,060,000,000 Ordinary Shares | |
| d) | Aggregated information | |
| - Aggregated volume | 1,060,000,000 | |
| - Price | £106,000 | |
| e) | Date of the transaction | 23/04/2026 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.