DAVY VIEW

Alongside the publication of its FY23 results, Corre Energy has announced that Corre Energy Group Holdings, its majority shareholder, has recently injected capital into the business by way of an intercompany loan (€0.85m, adding to its €1.1m year-end cash position). It also believes there can be reasonable expectation that supportive shareholders will fund further short-term working capital requirements of the business, thereby providing an important financial backstop at a time when its strategic investment process progresses forward. Its FY23 results are said to be in line with management expectations.