TIDMCRCL
RNS Number : 9409C
Corcel PLC
28 February 2022
Corcel PLC
("Corcel" or the "Company")
Debt Conversion and Directors Dealings,
TVR
28 February 2022
Corcel, the natural resource exploration and development company
with interests in battery metals and flexible energy generation and
storage, announces the conversion of the debt position, controlled
by the Chairman with an 18-month lock in.
Highlights:
o C4 Energy Limited (the "C4"), a company controlled by the
Chairman, has agreed to convert GBP128,586 of outstanding debt and
interest obligations, resulting in the issuance of 8,572,400 new
ordinary shares locked up for 18 months
C4 Debt Conversion
As previously announced on 14 December 2021, the Company has
agreed with its lenders, C4 Energy Limited, for the conversion (the
"C4 Conversion") of GBP128,586 of outstanding interest and
principal into 8,572,400 new ordinary shares (the "C4 Shares") of
the Company. These shares will be locked up for an 18-month period
following issuance.
Related Party Transaction
C4 is a UK incorporated private entity where James Parsons,
Chairman of Corcel Plc, is both a Director and shareholder. The C4
Conversion constitutes a related party transaction as defined by
Rule 13 of the AIM Rules for Companies. Ewen Ainsworth, Henry
Bellingham and Scott Kaintz, being the Directors of the Company,
who are independent of the C4 Conversion, having consulted with the
Company's nominated advisor, WH Ireland Ltd, and consider the terms
of the C4 Conversion to be fair and reasonable insofar as the
Company's shareholders are concerned.
Directors Dealings
James Parsons, through his interest in the C4 as outlined
herein, has increased his indirect interest in the Company through
the indirect ownership of 2,143,100 new ordinary shares, issued as
part of the C4 Debt Conversion.
Following the C4 Debt Conversion, the resultant Directors'
shareholdings are as follows:
Directors Ordinary Shares Total Shares % of Issued Warrants Options
Share Capital
Direct Indirect
---------- ---------- ------------- --------------- ---------- ----------
James Parsons 3,089,773 2,143,100 5,232,873 1.31% 2,381,250 3,040,567
---------- ---------- ------------- --------------- ---------- ----------
Scott Kaintz 2,570,944 1,754,275 4,325,219 1.08% 2,185,417 3,164,767
---------- ---------- ------------- --------------- ---------- ----------
Henry Bellingham 0 0 0 0.00% 0 0
---------- ---------- ------------- --------------- ---------- ----------
Ewen Ainsworth 2,253,429 0 2,253,429 0.56% 1,281,250 0
---------- ---------- ------------- --------------- ---------- ----------
Admission to Trading on AIM and Total Voting Rights
Application is being made to AIM for 8,572,400 shares to be
admitted to trading on AIM, the admission of which it is expected
on or around 4 March 2022.
In accordance with the provision of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following the issue of the C4 Shares its issued
ordinary share capital will comprise 400,560,001 ordinary
shares.
All of the ordinary shares have equal voting rights and none of
the ordinary shares are held in Treasury. The total number of
voting rights in the Company will therefore be 400,560,001. The
above figure may be used by shareholders as the denominator for the
calculations to determine if they are required to notify their
interests in, or change to their interest in, the Company.
Scott Kaintz 020 7747 9960 Corcel Plc CEO
James Joyce / Andrew de Andrade 0207 220 1666 WH Ireland Ltd NOMAD & Broker
Simon Woods 0207 3900 230 Vigo Consulting IR
This announcement contains inside information for the purposes
of Article 7 of Regulation 2014/596/EU, which is part of domestic
UK law pursuant to the Market Abuse (Amendment) (EU Exit)
regulations (SI 2019/310) and is disclosed in accordance with the
Company's obligations under Article 17.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Parsons
--------------------------------------------------- ---------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status
PDMR (Executive Chairman)
--------------------------------------------------- ---------------------------------
b) Initial notification/Amendment Initial Notification
--------------------------------------------------- ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Corcel plc
---------------------------------------------------- -------------------------------
b) LEI 2138009ECXQQ3EGKVY57
---------------------------------------------------- -------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------------
a) Description of the financial Ordinary shares of GBP0.0001
instrument, type of instrument each
---------------------------------------------------- -------------------------------
Identification code GB00BKM69866
---------------------------------------------------- -------------------------------
b) Nature of the transaction Purchase of ordinary shares
---------------------------------------------------- -------------------------------
c) Price(s) and volumes(s) Price(s) Volume(s)
---------------------------------------------------- ----------- ------------------
GBP0.015 2,143,100
-------------------------------------------------------- ----------- ------------------
d) Aggregated information 2,143,100
---------------------------------------------------- -------------------------------
Aggregated volume N/A
---------------------------------------------------- -------------------------------
Price GBP0.015
---------------------------------------------------- -------------------------------
e) Date of the transaction 25 February 2022
---------------------------------------------------- -------------------------------
f) Place of the transaction AIMX
---------------------------------------------------- -------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCUBRVRUNUUUAR
(END) Dow Jones Newswires
February 28, 2022 02:00 ET (07:00 GMT)
Corcel (LSE:CRCL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Corcel (LSE:CRCL)
Historical Stock Chart
From Jul 2023 to Jul 2024
