Settlement Date UpdateSource: RNS
("Corcel" or the "Company")
Settlement Date Update
25 October 2022
Further to the announcement of 17 October 2022, Corcel provides the following update on the subscription by the Shandong New Power COSMO AMT ("NPC").
As announced on 17 October 2022, NPC has subscribed for 50,000,000 new ordinary shares at a price of 0.4 pence per new ordinary shares (£200,000). The subscriber's bank has confirmed funds have been sent, however following delays with the international transfer process, the Company has agreed to extend the settlement date to 31 October 2022.
Application has been made for the 50,000,000 Initial Investment to be admitted to trading on AIM and it is expected that their admission to AIM will take place on or around 31 October 2022 (" Admission").
Following Admission, the Company's total issued share capital will consist of 580,208,295 Ordinary Shares, with one voting right per share. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company will be 580,208,295 from Admission. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company pursuant to the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Scott Kaintz 020 7747 9960 Corcel Plc CEO
James Joyce / Andrew de Andrade 0207 220 1666 WH Ireland Ltd NOMAD & Broker
Simon Woods 0207 3900 230 Vigo Communications IR
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.