CORO ENERGY PLC

• ◆

  Material uncertainty over going concern

  As a result, while the Directors consider the going concern basis of preparation to be appropriate, they acknowledge that a material uncertainty exists in relation to the availability and timing of funding required to execute the Group's growth strategy. This may cast significant doubt on the Group's ability to continue as a going concern.

• ·

  Going-concern uncertainty disclosed

Figures converted to GBP from USD at 0.749 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. CORO ENERGY PLC 2018-04-05 → present
2. SAFFRON ENERGY PLC 2016-11-10 → 2018-04-05

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As a result, while the Directors consider the going concern basis of preparation to be appropriate, they acknowledge that a material uncertainty exists in relation to the availability and timing of funding required to execute the Group's growth strategy. This may cast significant doubt on the Group's ability to continue as a going concern.”

Group structure

1. CORO ENERGY PLC · parent
   1. Coro Energy Asia Limited 100% · England · Holding company
   2. Coro Energy Holdings Cell A Limited 100% · England · Holding company
   3. Coro Energy (Singapore) Pte Ltd 100% · Singapore · Holding company
   4. Coro Energy Bulu (Singapore) Pte Ltd 100% · Singapore · Holding company
   5. Coro Energy Duyung (Singapore) Pte Ltd 100% · Singapore · Exploration and development company
   6. Coro Clean Energy Philippines Inc 80% · Philippines · Exploration and development company
   7. Coro Philippines Project 109 Inc 40% · Philippines · Exploration and development company
   8. Coro Philippines Project 121 Inc 40% · Philippines · Exploration and development company
   9. Coro Philippines Project 128 Inc 40% · Philippines · Exploration and development company
   10. Coro Clean Energy Ltd 100% · England · Holding company
   11. Coro Clean Energy Vietnam England Ltd 100% · England · Holding company
   12. Coro Renewables VN1 Joint Stock Company 92.5% · Vietnam · Holding company
   13. Coro Renewables VN2 Company Ltd 85% · Vietnam · Holding company
   14. Coro Renewables Vietnam Company Ltd 85% · Vietnam · Exploration and development company

Significant events

• “The Company has relied on the continued support of its shareholders in raising US$4.7 million across two separate share issues during 2025.”
• “The Company entered into a strategic partnership with Threefold Energy, a specialist BESS developer.”
• “Coro signed a contract for a BESS pilot with Mobile World Group.”
• “During the year, the Company completed the write-down and conversion of its outstanding Eurobond debt and raised gross equity proceeds of US$4.7 million across two separate share issues.”
• “The Company completed a capital reorganisation which became effective on 5 February 2025. As part of that process, the Company's outstanding Eurobond debt was fully extinguished through redemption and conversion into equity.”
• “During 2025, the Company agreed the disposal of its interest in the Duyung PSC to Conrad which completed after the year-end. The Company also exited its exposure to the Philippines wind licenses and their associated liabilities.”
• “Following the year-end, the Company raised £1.6 million of equity and has signed a detailed term sheet in respect of a proposed senior secured debt facility of up to US$20 million.”
• “In September 2025, management completed a strategic review of the Philippines Wind Project and it was decided to divest this project to focus the Group on solar projects only.”
• “On 22 January 2026 a resolution to consolidate 10 existing shares into 1 consolidated share was approved by shareholders at a General Meeting.”
• “On 2 April 2026 the Company announced that it has received internal credit committee approval from a leading global sustainable infrastructure investor in respect of a proposed senior secured debt facility of up to US$20 million.”
• “On 7 April 2026 the Company announced that it has signed binding 25-year equipment lease agreements and operations and maintenance contracts with a new customer, An Viet Phat Group, for the installation and leasing of rooftop solar systems across an initial two factories in Vietnam with a total estimated capacity of 1.6MW.”
• “On 10 April 2026 the Company announced that it had issued 1,110,000 new ordinary shares in lieu of cash to a creditor.”
• “On 27 April 2026 the Company announced that the sale of Duyung has been approved by Indonesia's Ministry of Energy and Mineral Resources and that 500,000 shares in Conrad Asia Energy Ltd have been issued to the Company.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

14

last 12 months

Capital events

10

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.