REG - Sound Energy PLC - Update re Divestment

Sound EnergyAnnouncement

21/10/2024 07:00

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RNS Number : 8582I  Sound Energy PLC  21 October 2024

 

 

21 October 2024

Sound Energy plc

 

("Sound Energy", the "Company" and together with its subsidiary undertakings
the "Group")

 

Update re Moroccan Assets: Binding agreement for the sale of share capital of
Sound Energy Morocco East Limited

 

Sound Energy, the transition energy company, announces that further to the
announcement of 14 June 2024 regarding the entry into a conditional binding
Sale and Purchase Agreement, 'SPA'  for the partial divestment by Sound
Energy (AIM: SOU), of its Moroccan assets by way of the disposal by the
Company of the entire issued share capital of the Company's wholly owned
subsidiary Sound Energy Morocco East Limited ("SEME") to Managem SA (the
"Transaction"), the Company is pleased to confirm the receipt of formal
approval from the Moroccan Minister of Energy Transition and Sustainable
Development to SEME continuing as the Operator of record of the Tendrara
Exploitation Concession, and the Anoual and Grand Tendrara Exploration
Permits, following completion of the Transaction.

 

As announced by the Company on 27 September 2024, the Transaction remains
conditional upon the satisfaction or waiver by the parties of the remaining
conditions precedent to the SPA and further announcements will be made as
appropriate in due course.

 

For further information visit www.soundenergyplc.com follow on X
@soundenergyplc or contact:

 

 Flagstaff Strategic and Investor Communications  Tel: 44 (0)20 129 1474

 Tim Thompson                                     sound@flagstaffcomms.com

 Mark Edwards

 Alison Allfrey

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

 Sound Energy

 Graham Lyon, Executive Chairman

                                                  Tel: 44 (0)20 7220 0500

 Cavendish Capital Markets - Nominated Adviser

 Ben Jeynes

 Peter Lynch

 Zeus - Broker                                    Tel: 44 (0)20 3829 5000
 Simon Johnson

                                                  Tel: 44 (0)20 3983 9263

 Gneiss Energy Limited - Financial Adviser

 Jon Fitzpatrick

 Paul Weidman

 Doug Rycroft

 

END

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