CIP completes first investment in Coro Energy

CIP Merchant Capital announced on Monday that, following Coro Energy’s announcement earlier in the day noting its readmission to trading on AIM and the completion of its acquisition of Sound Energy Holdings Italy, and its associated placing in which CIP participated, it had now completed its first investment.

The AIM-traded firm said it was now interested in 150,684,929 ordinary shares in Coro Energy, representing approximately 21% of Coro’s currently issued share capital.

“[CIP also holds] 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,” the board said in its statement.