Put Agreement
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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.
596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018.
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