12 June 2024
Coro Energy Plc
("Coro" or the "Company" and together with its subsidiaries the "Group")
Update re Italy Sale Proceeds
Coro Energy PLC, the South East Asian energy company with a natural gas and clean energy portfolio, announces an acceleration of receipt of a portion of the proceeds from the disposal of the Group's Italian natural gas portfolio.
The Company sold its Italian natural gas portfolio as previously announced by the Company during the course of 2023 and 2024 (the "Disposal"). The Disposal includes a monthly payment to the company of Euro 42,750 through to November 2025 and a final payment of Euro 26,750 in December 2025. All monthly payments have been received to-date.
The Company has today signed an agreement to accelerate the next 9 months payment in exchange for a 22% discount on those payments. Hence the Company will now receive Euro 150,000 on June 14 2024 and a further Euro 150,000 thirty days later. The monthly payments will restart from April 2025.
For further information please contact:
| Coro Energy plc
| Via Vigo Consulting Ltd
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| Cavendish Capital Markets Limited (Nominated Adviser) Adrian Hadden Ben Jeynes
| Tel: 44 (0)20 7220 0500 |
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| Hybridan LLP (Nominated Broker) Claire Louise Noyce | Tel: 44 (0)20 3764 2341
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| Vigo Consulting (IR/PR Advisor) Patrick d'Ancona Finlay Thomson
| Tel: 44 (0)20 7390 0230 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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