Coro Energy PLC, the South East Asian energy company with a natural gas and clean energy portfolio, announces that, further to the successful restructuring of the Company's Luxembourg listed EUR 22.5m 10% secured notes (the "Notes") as announced on 11 April 2022, the holders of the Notes have elected by the requisite majority to receive interest payments on the Notes in relation to the quarter to 12 January 2023 in new ordinary shares of the Company (the "Election").
The new Ordinary shares to be issued pursuant to the Election will be issued to holders of the Notes at a price equal to the volume weighted average price the Company's ordinary shares for the 10 business days to, and including, 12 January 2023 being 0.254 pence per new ordinary share.
A total of 229,325,962 new ordinary shares will therefore be issued in connection with the Election (the "New Ordinary Shares") and application has been made to the London Stock Exchange plc for the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM. Dealings in the New Ordinary Shares are expected to commence on or around 8.00 a.m. on 19 January 2023 ("Admission").
In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, on Admission its issued ordinary share capital will comprise 2,569,302,651 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 2,569,302,651.
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.