Result of WRAP Retail Offer
WRAP Retail Offer oversubscribed, raising £126,009.24 via 8,400,616 new shares.
- WRAP Retail Offer gross proceeds £126,009.24
- New Ordinary Shares to be issued 8,400,616
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Coro Energy plc (AIM: CORO) is pleased to confirm, further to the announcements made on 10 January 2025 and 24 January 2025, the result of the WRAP Retail Offer. The Company announces that it has conditionally raised aggregate gross proceeds of £126,009.24 pursuant to the WRAP Retail Offer, representing an oversubscribed WRAP offering. Accordingly, the Company will issue a total of 8,400,616 New Ordinary Shares at the Issue Price pursuant to the WRAP Retail Offer.
In addition to the WRAP Retail Offer and as announced on 9 January 2025, the Company is also proposing to raise further funds through a subscription of New Ordinary Shares (the "Subscription Shares"). A separate announcement regarding the Subscription was made by the Company on 9 January 2025 regarding its terms and sets out the reasons for the Subscription and use of proceeds. The proceeds of the WRAP Retail Offer will be utilised in the same way as the proceeds of the Subscription.
The WRAP Retail Offer is also conditional, inter alia, on the shareholder resolution being passed at the general meeting of the Company (due to be held on 5 February 2025) and the Subscription Shares and the WRAP Retail Offer Shares being admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective and that dealings in the Subscription Shares and the WRAP Retail Offer Shares will commence at 8.00 a.m. on 7 February 2025.
Terms used but not defined in this announcement have the same meaning as set out in the Company's announcement released at 07:00am on 10 January 2025.
The Company's LEI is 2138004JXMD9YXLMKS49.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.