RNS Number : 2212M
Coro Energy PLC
12 September 2023

12 September 2023


Coro Energy Plc

("Coro" or the "Company" and together with its subsidiaries the "Group")






Coro Energy PLC, the South East Asian energy company with a natural gas and clean energy portfolio, announces that further to restructuring its arrangements with its partners in the Philippines, as announced on 27 January 2023, the Company's dividend entitlement was increased and in exchange it was agreed to issue shares in the Company to two Philippines partners, (the "Partners").


A total of 40,000,000 new ordinary shares will therefore be issued to the Partners (the "New Ordinary Shares").  Fifty per cent of the New Ordinary Shares would be subject to lock-in restrictions until the first power production and revenue on the first Philippines renewable energy project; and the remaining fifty per cent subject to lock-in restrictions until the first power production and revenue on the second Philippines renewable energy project.

An application has been made to the London Stock Exchange for the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to AIM at 8.00 a.m. on  18 September 2023 ("Admission").


Following Admission, the Company's total issued ordinary share capital will consist of 2,866,858,784 Ordinary Shares with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company is 2,866,858,784.


The above figure of 2,866,858,784 may be used by shareholders as the denominator for the calculations by which they will determine if 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.


For further information please contact:

Coro Energy plc

James Parsons, Executive Chairman

Ewen Ainsworth, Chief Financial Officer



Via Vigo Consulting Ltd



Cavendish Securities plc (Nominated Adviser)

Adrian Hadden

Ben Jeynes



Tel: 44 (0)20 7220 0500

Vigo Consulting (IR/PR Advisor)

Patrick d'Ancona

Finlay Thomson


Tel: 44 (0)20 7390 0230

WH Ireland (Broker)

Harry Ansell

Katy Mitchell  


  Tel: 44 (0)20 7220 1670 / 44 (0)113 946 618



Gneiss Energy Limited (Financial Advisor)

Jon Fitzpatrick

Doug Rycroft


  Tel: 44 (0)20 3983 9263



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