REG - Coro Energy PLC - Update re Italy Sale Proceeds

Coro EnergyAnnouncement

12/06/2024 13:00

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RNS Number : 1821S  Coro Energy PLC  12 June 2024

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

 Cavendish Capital Markets Limited (Nominated Adviser)    Tel: 44 (0)20 7220 0500

 Adrian Hadden

 Ben Jeynes

 Hybridan LLP (Nominated Broker)                            Tel: 44 (0)20 3764 2341 (tel:(0)20%C2%A03764%202341)

 Claire Louise Noyce

 Vigo Consulting (IR/PR Advisor)                          Tel: 44 (0)20 7390 0230

 Patrick d'Ancona

 Finlay Thomson

 

 

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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