REG - Sound Energy PLC - Extensions Attijariwafa Term sheet ONEE Agreement

Sound EnergyAnnouncement

25/10/2023 07:00

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RNS Number : 1752R  Sound Energy PLC  25 October 2023

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

25 October 2023

 

Sound Energy plc

 

("Sound Energy" or the "Company")

 

Extensions to Attijariwafa Term sheet and ONEE Gas Sales Agreement

 

Sound Energy (AIM: SOU), the transition energy company, confirms the extension
of both the ONEE (Office National de l'Electricité et de l'Eau Potable) Gas
Sales Agreement ("GSA") and the Attijariwafa bank funding offer until 31st
December 2023.

 

Further to announcement of 28(th) June regarding the conditioned financing
offer by Attijariwafa bank, the Company confirms that it is in discussions
with ONEE under the auspices of the Ministry of Energy to conclude the
amendments to the GSA to the lender's satisfaction, in order to complete the
necessary conditions precedent to the Conditional Offer.

 

Commenting, Graham Lyon (Executive Chairman) said:

 

"Various elements within the GSA are being amended to meet the debt funders
criteria and to meet international standards. As such, Sound Energy, ONHYM,
ONEE and Attijariwafa bank are engaged under the auspices of the Ministry of
Energy to conclude a revised GSA by year end."

 

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                                     chairman@soundenergyplc.com (mailto:chairman@soundenergyplc.com)

 Graham Lyon, Executive Chairman

 Cavendish Securities - Nominated Adviser         Tel: 44 (0)20 7397 8900

 Ben Jeynes

 Peter Lynch

 SP Angel Corporate Finance LLP - Broker          Tel: 44 (0)7789 865 095
 Richard Hail

 Gneiss Energy Limited - Financial Adviser        Tel: 44 (0)20 3983 9263

 Jon Fitzpatrick

 Paul Weidman

 Doug Rycroft

 

 

END

 

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