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
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
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