Corcel plc has issued 31,250,000 new ordinary shares of £0.0001 by way of a warrants exercise at a price of £0.00225 per warrant share for £70,312.50.
TVRs
Following admission of the 31,250,000 warrant shares, the company’s issued share capital will comprise of 5,589,928,731 ordinary shares, each with one voting right.
The company has also applied to the London Stock Exchange for a block listing of up to 944,575,000 ordinary shares to be admitted to trading on AIM.
The block listing, which excludes the new ordinary shares issued today, will fulfill the issue of shares for further outstanding placing warrants.
Corcel said that the number is 17% of its currently issued share capital and covers the potential exercise of approximately 49% of the current outstanding warrants.
The placing warrants were issued between October 2022 and February 2025 and expire between October 2025 and February 2027.
The total warrants outstanding exceed the block listing total.
Corcel holds oil and gas interests onshore Angola and Brazil.