Coro Energy PLC - Previously Intended Open Offer
21 May 2019
("Coro Energy" or the "Company")
Previously Intended Open Offer
Coro Energy, the Southeast Asian focused oil and gas company, previously announced on
The Previously Intended Open Offer was not required by the Company to fund operations but was instead intended to provide qualifying shareholders with the opportunity to subscribe for additional ordinary shares at the same price as was available to investors under the Placing and Subscription.
The Company's ordinary shares have, since completion of the Placing and Subscription, traded below the price at which the Previously Intended Open Offer was to be launched and the Directors do not therefore believe that it would be a productive use of Company funds to proceed with an open offer at a premium to the prevailing share price at the current time. As a result, the Company no longer intends to proceed with the Previously Intended Open Offer.
For further information please contact:
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Cenkos Securities plc (Nominated Adviser)
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Tel: 44 (0)20 7397 8900 |
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Patrick d'Ancona
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Tel: 44 (0)20 7390 0230 |
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Tel: 44 (0)20 3167 7221 |
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Tel: 44 (0)20 3621 4120 |
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