REG - Sound Energy PLC - Result of Broker Option
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.
3 August 2020
Sound Energy plc
("Sound Energy" or the "Company")
Result of Broker Option
Director/PDMR Shareholding and Total Voting Rights
Sound Energy (the "Company"), the Moroccan focused upstream gas company, announces that it has raised additional proceeds of £725,000 (before expenses) pursuant to a Broker Option and following completion of the Placing announced by the Company on 29 July 2020.
As announced on 29 July 2020, the Company granted the Broker Option to Turner Pope Investment Limited under the Placing Agreement in order to enable smaller qualified shareholders in the Company and other qualified investors to participate in the Fundraising at the Placing Price.
Turner Pope has exercised the Broker Option in respect of 34,117,647 Broker Option Shares at the at the Placing Price of 2.125 pence per Broker Option Share.
Accordingly, the total number of New Ordinary Shares to be issued by the Company pursuant to the Fundraise is 163,529,411 and as previously announced, application has been made for the New Ordinary Shares to be admitted to trading on AIM. It is expected that settlement of the Placing Shares and the Broker Option Shares and Admission will take place at 8.00 a.m. on 5 August 2020 and that dealings in the Placing Shares and the Broker Option Shares will commence at that time.
Certain of the directors of the Company have subscribed for the following number of Broker Option Shares at the Placing Price under the Broker Option:
Director
Number of Broker Option Shares subscribed for
Ordinary Shares on Admission
% Ordinary Shares on Admission
Graham Lyon
941,176
1,066,962
0.08%
Richard Liddell
941,176
1,041,176
0.08%
David Blewden
1,176,471
1,176,471
0.09%
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further details in relation to the directors' participation in the Broker Option.
Total Voting Rights
On Admission, the Company's issued ordinary share capital will comprise 1,326,244,389 ordinary shares of 1p each with voting rights. The Company does not hold any shares in treasury. This figure of 1,326,244,389 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Graham Lyon, Sound Energy's Executive Chairman, commented:
" I am encouraged to see a further £725,000 added via the broker option to the £2.75 million placing announced on 29 July 2020. Investor support of the business and its strategy is most appreciated."
Capitalised terms used in this announcement have the meanings given to them in the Company's announcement of the Placing on 29 July 2020.
For further information please contact:
Vigo Communications - PR Adviser
Patrick d'Ancona
Chris McMahon
Tel: 44 (0)20 7390 0230
Sound Energy
Graham Lyon, Executive Chairman
Cenkos Securities - Nominated Adviser
Ben Jeynes
Russell Cook
Tel: 44 (0)20 7397 8900
Turner Pope Investments (TPI) Ltd - Broker
Andy Thacker
Tel: (0)20 3657 0050
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
The Placing does not constitute a public offer of securities in accordance with the provisions of Section 85 of the Financial Services and Markets Act 2000 and accordingly a prospectus will not be issued in the United Kingdom.
This announcement does not constitute an offer of securities in the United Kingdom or in any other jurisdiction, including the United States of America.
NOTIFICATIONS AND PUBLIC DISCLOSURES OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Graham Lyon
2
Reason for the notification
a)
Position/status
Executive Chairman
b)
Initial notification/Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sound Energy plc
b)
LEI
213800VQKS2TU6FOW115
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary shares of 1p each
Identification code
GB00B90XFF12
b)
Nature of the transaction
Subscription for new ordinary shares pursuant to fundraise
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
£0.02125
941,176
d)
Aggregated information
NA (single transaction)
Aggregated volume
Price
e)
Date of the transaction
31 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Richard Liddell
2
Reason for the notification
a)
Position/status
Non-Executive Director
b)
Initial notification/Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sound Energy plc
b)
LEI
213800VQKS2TU6FOW115
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary shares of 1p each
Identification code
GB00B90XFF12
b)
Nature of the transaction
Subscription for new ordinary shares pursuant to fundraise
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
£0.02125
941,176
d)
Aggregated information
NA (single transaction)
Aggregated volume
Price
e)
Date of the transaction
31 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
David Blewden
2
Reason for the notification
a)
Position/status
Non-Executive Director
b)
Initial notification/Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Sound Energy plc
b)
LEI
213800VQKS2TU6FOW115
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Ordinary shares of 1p each
Identification code
GB00B90XFF12
b)
Nature of the transaction
Subscription for new ordinary shares pursuant to fundraise
c)
Price(s) and volumes(s)
Price(s)
Volume(s)
£0.02125
1,176,471
d)
Aggregated information
NA (single transaction)
Aggregated volume
Price
e)
Date of the transaction
31 July 2020
f)
Place of the transaction
Outside a trading venue
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