Corcel PLC
("Corcel"
or the "Company")
Share Incentive Plan
Issuance
20
May 2024
Corcel Plc,
("Corcel" or "the Company"), the pan Angolan/Brazilian
focused exploration and production Company, announces that
on 16 May 2024, the Board of Directors
approved the issuance of 3,556,362 ordinary shares of £0.0001 each in the Company ("New Ordinary Shares")
under the Company's Share Incentive Plan ("SIP") for the 2023/24
tax year as agreed in the Trustees meetings held on 2 April 2024
and on 8 May 2024.
Under the SIP, all eligible
employees may elect to have monthly deductions made from their
salaries and held by the SIP Trustees until the end of the holding
period of each tax year to be invested in the Company. The prices
used for share issuance were the mid-market closing price of
£0.0033 as at 1 April 2023 for the Partnership Shares and the
Matching Shares issue and the mid-market closing price of £0.00375
as at 28 March 2024 for the Free Shares issue. Accordingly, 545,454
Partnership Shares and 1,090,908 Matching Shares and 1,920,000 Free
Shares were issued.
Admission to Trading on AIM and Total Voting
Rights
Application is being made to AIM
for 3,556,362 New
Ordinary Shares, allotted in relation to the SIP for 2023/24 tax
year, to be admitted to trading on AIM, the admission of which it
is expected on or around 24 May 2024.
Following admission of the New
Ordinary Shares, the Company's total issued share capital will
consist of 1,958,300,515 ordinary shares, with one voting right per
share. The Company does not hold any shares in treasury.
Therefore, the total number of voting rights in
the Company will be 1,958,300,515. 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 share capital of
the Company, pursuant to the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority.
For
further information, please contact:
Antoine
Karam
Corcel Plc Executive
Chairman
Development@Corcelplc.com
Scott Gilbert
Corcel Plc CEO
Development@Corcelplc.com
James Joyce / James Bavister /Andrew de Andrade
WH Ireland
Ltd NOMAD &
Broker
0207 220 1666
Patrick d'Ancona
Vigo
Communications IR
0207 3900 230
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.