Corcel PLC
("Corcel" or the
"Company")
Board Change & Change of
Interest
4 November
2024
Corcel Plc (London AIM: CRCL), the
pan Angola-Brazil focused energy company, announces the resignation
of Non-Executive Director Mr. Antoine Karam with immediate
effect.
Corcel's Interim Non-Executive Chairman Andrew Fairclough
commented: "On behalf of the board, I
would like to offer thanks to Antoine for all that he has done for
the company, having led the change in strategic direction last year
and for supporting it both financially and enthusiastically
throughout his time on the board as we aim to deliver the value in
this business, which he has always believed in. We wish him well in
his future endeavours and, furthermore, thank him and Extraction on
their promise of ongoing support."
Further to the "TR-1: Notification of major
holdings" announced this morning, the direct holding of Extraction
SRL ("EXT") has decreased to 4% as at 28 October 2024. Mr.
Antoine Karam remains a 45% shareholder
of EXT.
The resultant indirect shareholding
is as follows:
|
|
Ordinary Shares
|
Total Shares
|
%
of Issued Share Capital
|
Options
|
Warrants
|
|
|
|
|
Direct
|
Indirect
|
|
|
|
|
|
|
Antoine Karam
|
-
|
67,233,609*
|
67,233,609
|
1.80%
|
125,962,320
|
94,996,305
|
|
*A total of 149,408,021 shares are
held by Extractions Premium & Mining Ltd.
For
further information, please contact:
Scott
Gilbert
Corcel Plc CEO
Development@Corcelplc.com
James Joyce / James Bavister /Andrew de Andrade
Zeus Capital NOMAD &
Broker
0207 220 1666
Jonathan Wright / Rupert Holdsworth
Hunt
Auctus Advisors Joint
Broker
07711 627449
Patrick d'Ancona
Vigo Communications IR
0207 3900 230
About Corcel
Corcel has a notable oil and gas
portfolio in onshore Angola that includes brownfield development
opportunities and significant exploration upside.
Corcel's
Angola portfolio consists of interests in three
licences:
· KON
- 16 Operated - 55% working interest - 49.5% net to CRCL
· KON
- 11 Non-Operated - 20% working interest - 18% net to
CRCL
· KON
- 12 Non-Operated - 25% working interest - 22.5% net to
CRCL
The information contained within
this announcement is deemed to constitute inside information as
stipulated under the Market Abuse Regulation (EU) No. 596/2014
which is part of UK law by virtue of the European Union
(withdrawal) Act 2018. Upon the publication of this announcement,
this inside information is now considered to be in the public
domain.