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 |
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