REG - Southern Energy Corp - BLOCK LISTING APPLICATION TO AIM

Southern EnergyAnnouncement

06/05/2022 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220506:nRSF5877Ka&default-theme=true

RNS Number : 5877K  Southern Energy Corp.  06 May 2022

 

SOUTHERN ENERGY CORP.

ANNOUNCES BLOCK LISTING APPLICATION TO AIM

 

Calgary, Alberta - May 6, 2022 - Southern Energy Corp. ("Southern Energy" or
the "Company") (SOU: TSXV) (AIM:SOUC), a U.S.-focused, growth-oriented oil and
natural gas producer, announces that application has been made to AIM for a
block admission of 15,624,232 new common shares in the Company ("Common
Shares"). This will be used to facilitate the admission of Common Shares to
trading following future exercises of outstanding warrants issued in 2021
("2021 Warrants") and future conversions of outstanding 8% convertible
unsecured subordinated debentures issued on June 14, 2019 and January 15, 2021
(the "Convertible Debentures"). The number of Common Shares admitted for these
purposes is as follows:

·    up to 7,812,116 Common Shares in connection with the 2021 Warrants;
and

·    up to 7,812,116 Common Shares in connection with the Convertible
Debentures.

The Common Shares cited above will be issued from time to time pursuant to
exercises of the 2021 Warrants and conversions of the outstanding Convertible
Debentures.

New Common Shares issued under the block admission will rank pari passu in
all respects with existing Common Shares, and it is expected that the block
admission will become effective from 8.00 a.m. on 10 May 2022. There is no
immediate change to the Company's issued share capital as a result of this
block admission.

The Company will make six-monthly announcements of the utilisation of the
block admission, in line with its obligations under AIM Rule 29.

At the time of this announcement, Southern Energy has 78,513,733 Common Shares
in issue. This figure 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.

For further information, please contact:

 Southern Energy Corp.

 Ian Atkinson (President and CEO)                           +1 587 287 5401

 Calvin Yau (VP Finance and CFO)                            +1 587 287 5402

 Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494

 James Spinney / James Bellman

 Hannam & Partners - Joint Broker                           +44 (0) 20 7907 8500

 Sam Merlin / Ernest Bell

 Canaccord Genuity - Joint Broker                           +44 (0) 20 7523 8000

 Henry Fitzgerald-O'Connor / James Asensio

 Camarco

 James Crothers, Hugo Liddy, Billy Clegg                    +44 (0) 20 3757 4980

About Southern Energy Corp.

Southern Energy Corp. is a natural gas exploration and production company.
Southern has a primary focus on acquiring and developing conventional natural
gas and light oil resources in the southeast Gulf States of Mississippi,
Louisiana, and East Texas. Our management team has a long and successful
history working together and have created significant shareholder value
through accretive acquisitions, optimization of existing oil and natural gas
fields and the utilization of re-development strategies utilizing horizontal
drilling and multi-staged fracture completion techniques.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ALSBKABPPBKKAPK