BOARD OF DIRECTORS
Scott Gilbert (Executive Director – CEO)
Geraldine Geraldo (Executive Director – Chief Commercial and Strategy Officer)
Pradeep Kabra (Independent Non-Executive Chairman)
Andrew Fairclough (Independent Non-Executive Director)
Yan Zhao (Non-Executive Director)
COMPANY SECRETARY
AMBA Secretaries Limited
COUNTRY OF Incorporation and OPERATION
The Company has been incorporated in England and Wales and operates from its base in the UK.
Angola focused oil and gas development Company with exposure to battery metals assets.
NUMBER OF SECURITIES IN ISSUE
The Company has 7,518,083,138 ordinary shares of £0.0001 each with voting rights. No ordinary shares are held in treasury.
NUMBER OF OPTIONS IN ISSUE
| Number | Exercise Price | Vesting Conditions | Exercisable From | Expiring |
| 20,606,278 | £0.0170 | After 28 Feb 25, award of a mining lease at the company’s Mambare Project | 28.02.2025 | 27.02.2027 |
| 494,700,000 | £0.0034 | None | 30.10.2028 | 30.10.2031 |
FOUNDER SHARE PLAN
The Founder Share Plan (FSP) is a value creation plan based on delivering increased equity value over next three years above a share price of 0.34p per Corcel share (the “Base Price”), the price at which the Company last raised equity capital in July 2025 and the closing mid-market price of 30 October 2025. The FSP is intended to provide the potential for participants to be meaningfully rewarded for generating material shareholder value above the Base Price with the main parameters being that the rewards will amount to 10% of shareholder value created (increases share price together with any dividends and other distributions) over the next three years above a compounded annual return of 15%.
The FSP will be performance tested and awards will vest based on the average share price over the final 20 dealing days of the three-year performance period, which commenced on the date the awards were made (the “End Share Price”).
Awards have been granted as units equally (50:50) to the Company’s Executive Directors. The value of the awards at the end of the three-year performance period will be delivered to the Executive Directors by the grant of nominal cost share options which will be exercisable up to 5 years from the adoption of the FSP.
The FSP is subject to an overall cap that the number of options issuable pursuant to the FSP will not exceed 8% of the shares in issue at the date of grant of the share options. The options will be subject to malus and clawback provisions.
NUMBER OF UNEXERCISED WARRANTS
90,450,000
RESTRICTIONS ON THE TRANSFER OF AIM SECURITIES
None
AIM SECURITIES NOT IN PUBLIC HANDS
5.83%
SECURITIES SUBJECT TO LOCK-IN
None
THE COMPANY IS SUBJECT TO THE UK CITY CODE ON TAKEOVERS AND MERGERS
THE COMPANY’S SECURITIES TRADE EXCLUSIVELY ON THE ALTERNATE INVESTMENT MARKET OF THE LONDON STOCK EXCHANGE
ANNUAL ACCOUNTS AND HALF YEARLY REPORTS ARE POSTED AND MAINTAINED ON THE WEBSITE FOR A MINIMUM OF 5 YEARS
The above figures are correct as at 1 November 2025.
Last updated on 03.11.2025