REG - Sound Energy PLC - Successful Completion of Bond Restructuring

Sound EnergyAnnouncement

04/12/2023 14:30

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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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