RNS Number : 6444U
Sound Energy PLC
01 July 2024
 

1 July 2024

 

Sound Energy plc

("Sound Energy" or the "Company")

 

Partial Conversion of Convertible Loan Note

 

Total Voting Rights

 

Sound Energy (AIM: SOU), the AIM listed transition energy company, advises that it has received conversion notices to issue an aggregate of 50,000,000 new Ordinary Shares ("Conversion Shares") at a conversion price of 1 pence per Share under the terms of an existing Convertible Loan Note Agreement (the "Convertible Loan Note"). The terms of the Convertible Loan Note, which was drawn down in an initial amount of £2.5 million, were announced on 13 June 2023. The Convertible Loan Note has a remaining principal outstanding of £250,000 and the issue of the Conversion Shares reduces the accrued interest owing on the Convertible Loan Notes by £500,000, with £887,500 remaining outstanding as at the date of this announcement.

 

An application has been made for the Conversion Shares to be admitted to trading on AIM ("Admission"). The Conversion Shares will rank pari passu with the existing ordinary shares in issue and it is expected that Admission will occur on or around 8.00 a.m. on 5 July 2024.

 

Following Admission, the Company's enlarged share capital will comprise 2,043,122,679 ordinary shares of 1p each, each with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

 

                                               

Flagstaff Strategic and Investor Communications

Tim Thompson

Mark Edwards

Alison Allfrey

 

sound@flagstaffcomms.com

Tel: +44 (0)20 129 1474

Sound Energy

Graham Lyon, Executive Chairman

 

 

chairman@soundenergyplc.com

Cavendish Capital Markets - Nominated Adviser

Ben Jeynes 

Peter Lynch 

 

Tel: +44 (0)20 7220 0500

Zeus - Broker

Simon Johnson

+44 (0)20 3829 5000

 

Gneiss Energy Limited - Financial Adviser

Jon Fitzpatrick

Paul Weidman

Doug Rycroft

 

 

Tel: +44 (0)20 3983 9263

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TVRXFLFBZDLBBBQ