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RNS Number : 6034V Sound Energy PLC 04 December 2023
4 December 2023
Sound Energy plc
("Sound Energy" or the "Company")
Successful Completion of Bond Restructuring
Sound Energy, the AIM-listed transition energy company, is pleased to announce
that at the meeting of the holders (the "Noteholders") of the Company's
Luxembourg listed EUR 28.8m 5.0% senior secured notes (the "Notes") held
earlier today to consider the proposal for the restructuring of the Notes (the
"Proposal"), the Proposal was duly approved by Noteholders by the requisite
majority.
At the Noteholder meeting, quorum was reached with voting instructions
representing EUR 15.7M of the Notes lodged by Noteholders, with 96.18% of
votes cast in favour of the Proposal.
As a result of the Noteholders' approval of the Proposal, the prior
obligation for the Company to commence amortisation of the Notes at a rate of
5.0% of the EUR 25.3M Notes principal outstanding every six months from 21
December 2023 until maturity in December 2027 has now been removed.
Notice of the result of the Noteholder meeting will shortly be sent to
Noteholders and will be available on the Company's website at
www.soundenergyplc.com (http://www.soundenergyplc.com/) thereafter.
For further information:
Flagstaff Strategic and Investor Communications Tel: 44 (0)20 129 1474
Tim Thompson
Mark Edwards sound@flagstaffcomms.com
Alison Allfrey
Sound Energy
Graham Lyon, Executive Chairman chairman@soundenergyplc.com (mailto:chairman@soundenergyplc.com)
Cavendish Capital Markets - Nominated Adviser
Ben Jeynes Tel: 44 (0)20 7397 8900
Peter Lynch
SP Angel Corporate Finance LLP - Broker
Richard Hail Tel: 44 (0)7789 865 095
Gneiss Energy Limited - Financial Adviser
Jon Fitzpatrick Tel: 44 (0)20 3983 9263
Paul Weidman
Doug Rycroft
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