REG - Sound Energy PLC - Partial Conversion of Convertible Loan Note & TVR

Sound EnergyAnnouncement

28/03/2024 17:00

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RNS Number : 7946I  Sound Energy PLC  28 March 2024

28 March 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 30,000,000
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 £300,000, with £1,387,500 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 April 2024.

 

Following Admission, the Company's enlarged share capital will comprise
1,993,122,679 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  sound@flagstaffcomms.com

 Tim Thompson                                     Tel: +44 (0)20 129 1474

 Mark Edwards

 Alison Allfrey

 Sound Energy                                     chairman@soundenergyplc.com

 Graham Lyon, Executive Chairman

 Cavendish Capital Markets - Nominated Adviser    Tel: +44 (0)20 7220 0500

 Ben Jeynes

 Peter Lynch

 Zeus - Broker                                    +44 (0)20 3829 5000

 Simon Johnson

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

 Jon Fitzpatrick

 Paul Weidman

 Doug Rycroft

 

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