Corcel (CRCL)

Sector:

Mining

Index:

FTSE AIM All-Share

 0.43p
   
  • Change Today:
      0.000p
  • 52 Week High: 2.00
  • 52 Week Low: 0.38
  • Currency: UK Pounds
  • Shares Issued: 524.88m
  • Volume: 4,487,320
  • Market Cap: £2.23m
  • RiskGrade: 424

Regency Mines announces corporate restructure, new chairman

By Josh White

Date: Thursday 05 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Natural resource exploration and development company Regency Mines announced a corporate restructuring on Thursday, including board changes, a proposed placing, share consolidation and restructuring of its balance sheet.

The AIM-traded firm also announced that C4 Energy - a UK incorporated private company part-controlled by its proposed new chairman - has secured an option to acquire Regency's remaining debt.

It proposed James Parsons to join the company as its new executive chairman, and confirmed gross proceeds of £0.83m would be raised in the placing at a price of 0.0275p per share.

Promissory notes of approximately £1m would be retired, the board confirmed.

It also said that C4 Energy had acquired an option to purchase its residual debt, following a restructuring which reduced its total obligations to £0.729m from £1.9m, and extended the term to 2021 with no conversion rights.

Finally, the firm confirmed it had planned a corporate rebranding exercise.

"The road to a successful carbon transition requires real progress in the exploration and extraction of battery metals and energy storage technology," said James Parsons.

"I see huge opportunity for Regency given its current asset base, particularly supporting the recent rapid growth of electric vehicles, and I am delighted to join as executive chairman with a view to building the business through a blend of organic development and acquisition."

Nigel Burton, outgoing non-executive chairman, added that the developments were the culmination of a multi-month effort to "establish the foundations" of growth and value creation for Regency.

"We welcome James Parsons joining as part of the restructuring process, and we look forward to a renewed focus on project development under his leadership."

At 1607 GMT, shares in Regency Mines were up 23.08% at 0.04p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Corcel Market Data

Currency UK Pounds
Share Price 0.43p
Change Today 0.000p
% Change 0.00 %
52 Week High 2.00
52 Week Low 0.38
Volume 4,487,320
Shares Issued 524.88m
Market Cap £2.23m
RiskGrade 424

Corcel Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.21% above the market average33.21% above the market average33.21% above the market average33.21% above the market average33.21% above the market average
22.95% above the sector average22.95% above the sector average22.95% above the sector average22.95% above the sector average22.95% above the sector average
Price Trend
94.94% below the market average94.94% below the market average94.94% below the market average94.94% below the market average94.94% below the market average
88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average88.89% below the sector average
Income Not Available
Growth Not Available

Corcel Dividends

No dividends found

Trades for 11-Aug-2022

Time Volume / Share Price
14:53 450,000 @ 0.44p
14:50 600,000 @ 0.45p
14:31 1,000,000 @ 0.43p
14:27 195,990 @ 0.44p
14:10 65,555 @ 0.44p

Corcel Key Personnel

CEO Scott Christopher Kaintz

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