REG - Southern Energy Corp - EXERCISE OF WARRANTS AND DIRECTOR SHARE PURCHASE

Southern EnergyAnnouncement

03/05/2022 07:00

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RNS Number : 9822J  Southern Energy Corp.  03 May 2022

 

SOUTHERN ENERGY CORP. ANNOUNCES EXERCISE OF WARRANTS AND DIRECTOR SHARE
PURCHASE

 

Calgary, Alberta - May 3, 2022 - Southern Energy Corp. ("Southern" or the
"Company") (SOU: TSXV) (AIM:SOUC), a U.S.-focused, growth-oriented oil and
natural gas producer, announces that the Company has issued 187,500 new common
shares in the Company ("Common Shares") to satisfy an exercise of warrants
over Common Shares at an exercise price of CAD0.32 per Common Share.

 

Admission to Trading on AIM and Total Voting Rights

 

Application has been made to the London Stock Exchange plc for the admission
to trading on AIM of the 187,500 new Common Shares, which is expected to occur
at 8.00 a.m. on or around 6 May 2022 ("Admission"). On Admission, the new
Common Shares will rank pari passu with the existing Common Shares.

On Admission, the issued share capital of the Company will be 78,513,733
Common Shares and this figure may be used by shareholders as a denominator for
the calculations by which they will determine if they are required to notify
their interest in or change to their interest in the Company. There are no
Common Shares held in treasury and each Common Share entitles the holder to a
single vote at general meetings of the Company. Accordingly, on Admission, the
total number of voting rights in the Company will be 78,513,733.

Director Share Purchase

The Company also announces the following purchase of Company common shares by
Bruce Beynon, a director of the Company. The notification below, made in
accordance with the requirements of the EU Market Abuse Regulation, provides
further detail on the transaction.

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Bruce Beynon
 2.  Reason for the notification
 a)  Position/status                                              Director
 b)  Initial notification /Amendment                              Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Southern Energy Corp.
 b)  LEI                                                          213800R25GL7J3EBJ698
 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  Common shares in Southern Energy Corp.

     Identification code                                          CA8428133059

 b)  Nature of the transaction                                    Purchase of common shares on the open market
 c)  Price(s) and volume(s)                                       50,000 common shares at a price of CAD0.8056
 d)  Aggregated information                                       N/A

 e)  Date of the transaction                                      28 April 2022
 f)  Place of the transaction                                     Toronto Stock Exchange

 

 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, Billy Clegg, Daniel Sherwen                +44 (0) 20 3757 4980

For further information, please contact:

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.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018 (as amended).

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