9 April 2018
CIP MERCHANT CAPITAL LIMITED
("CIP Merchant Capital" or the "Company")
Completion of Investment in Saffron Energy plc
The Company is pleased to announce that, following Coro Energy plc's ("Coro Energy") (previously Saffron Energy plc) announcement released earlier today noting its readmission to trading on AIM and the completion of its acquisition of Sound Energy Holdings Italy Limited and associated placing in which the Company participated, the Company has now completed its first investment.
The Company is now interested in 150,684,929 ordinary shares in Coro Energy ("Coro Shares"), representing approximately 21.0 per cent. of Coro Energy's currently issued share capital, and 68,493,150 vested warrants over Coro Shares which expire on 9 April 2019 and are exercisable at a price of 6.57 pence per Coro Share.
For further information, please contact:
Merchant Capital Manager Limited (Investment Manager)
+41 91 225 25 60
Strand Hanson Limited (Financial & Nominated Adviser and Broker)
+44 20 7409 3494
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
This information is provided by RNS