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Corcel ( (GB:CRCL) ) has issued an announcement.
Corcel Plc announced that all resolutions at its Annual General Meeting were passed, aligning with its strategy to reduce cash obligations by issuing shares in lieu of historic director fees and awarding bonus shares. This initiative underscores the company’s operational progress in 2024, including increased equity and strategic entries into Angola and Brazil, which are pivotal for its growth trajectory. The issuance of new shares aims to preserve cash and recognize corporate milestones, impacting shareholder alignment and company operations.
More about Corcel
Corcel Plc is a pan Angola-Brazil focused energy company with a notable oil and gas portfolio in onshore Angola, offering brownfield redevelopment opportunities and significant exploration upside. They have marked a new country entry into Brazil by acquiring rights to producing gas and exploration assets, enhancing their growth potential. The company also holds an 80% working interest in the Mt Weld Rare Earth Elements project in Western Australia.
YTD Price Performance: -77.65%
Average Trading Volume: 45,722,550
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £5.69M
Learn more about CRCL stock on TipRanks’ Stock Analysis page.
