14 January 2025
Coro Energy Plc
("Coro"
or the "Company")
Publication of proposals in
relation to redemption and conversion of Bonds
Coro Energy Plc, the South East
Asian energy company with a natural gas and clean energy
portfolio, announces, further to the
announcement of 9 January 2025 in respect of the
Company's Luxembourg listed EUR 22.5 million
10.0% secured notes (with interest a total of EUR 29.2
million) ("Bonds"),
the Company has published proposals for the redemption
and conversion of the Bonds (the
"Bond Proposals") to the
holders of the Bond (the "Bondholders").
Meetings of the Bondholders
("Bondholder
Meetings") have been convened to be
held at the offices of Fieldfisher LLP, Riverbank
House, 2 Swan Lane, London, EC4R 3TT, at 10.00 a.m. (GMT) on
5 February 2025 in respect of the Tranche A
Notes and at 10.15 a.m. (GMT) on 5 February 2025 (or after the
completion of the Tranche A Notes Meeting (whichever is later)) in
respect of the Tranche B Notes to
consider the following proposals:
·
the deemed repayment of 75% of the principal
amount of the Bonds together with all accrued interest;
and
·
the conversion of the balance of principal outstanding
under the Bonds into 311,617,085 New Ordinary Shares ("Bond Conversion Shares") at the Issue
Price.
The Bond Proposals will be
conditional, inter alia, on:
· the
Shareholder Resolution being duly passed;
· the
Bondholders passing the requisite resolutions at the Bondholder
Meetings; and
· Admission of the Bond Conversion Shares, Subscription Shares and Retail Offer Shares to trading on the AIM market of the London Stock
Exchange.
A copy of the circular sent to
Bondholders containing the Bond Proposals is available on the
Company's website at www.coroenergyplc.com
Capitalised terms used but not defined in this
announcement shall have the meaning given to them in the Company's
announcement of 9 January 2025.
For Further Information
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Coro Energy
plc
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Via Vigo Consulting
Ltd
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Cavendish
Capital Markets Limited (Nominated Adviser)
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+44 (0)20 7220
0500
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Adrian Hadden
Ben Jeynes
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Hybridan LLP
(Nominated Broker)
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+44 (0)20 3764 2341
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Claire Louise Noyce
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Vigo
Consulting (IR/PR Advisor)
Patrick d'Ancona
Finlay Thomson
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Tel:
44 (0)20 7390 0230
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Further information on the Company can be found
on its website at www.coroenergyplc.com