REG - Sunda Energy PLC - CLN Conversion

Sunda EnergyAnnouncement

16/05/2025 07:45

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RNS Number : 9925I  Sunda Energy PLC  16 May 2025

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO
THE UNITED STATES, CANADA OR JAPAN.

 

16 May 2025

Sunda Energy Plc

("Sunda" or "Sunda Energy" or the "Company")

 

Conversion of Loan Notes and Issue of Warrants

 

Further to the Company's announcement on 13 May 2025, Sunda Energy Plc (AIM:
SNDA), the AIM-quoted exploration and appraisal company focused on gas assets
in Southeast Asia, announces that it has received notice from each of the
three investors (collectively the "Investors") who participated in the CLN
fundraising, in each case to convert all of the outstanding balance of their
Loan Notes (the "Outstanding Balance") into ordinary shares of 0.025 pence
each in the Company ("Ordinary Shares").

 

The conversion price of the Outstanding Balance is 0.03995 pence (the
"Conversion Price"), which, in accordance with the terms of the Loan Notes, is
a 15% discount to the lowest daily volume weighted average trading price on
any of the 20 business days prior to the issue of each individual conversion
notice (being 0.047 pence).

 

Accordingly, the Company will issue in aggregate 3,125,594,493 new Ordinary
Shares (the "New Ordinary Shares") to the Investors (the "Conversion").

 

In addition, the Company has granted Warrants to the Investors pursuant to the
Conversion. In aggregate, 1,803,227,592 Warrants have been granted to the
Investors. One Warrant will entitle the Investors to subscribe for one
Ordinary Share, at a 30% premium to the Conversion Price, being 0.051935
pence.

 

Details of the terms and conditions of the CLNs are outlined in the Company's
announcement released on 24 April 2025 and in the Company's circular posted to
shareholders on 25 April 2025.

 

Admission to AIM

 

Application will be made shortly to London Stock Exchange plc for the
3,125,594,493 New Ordinary Shares to be admitted to trading on AIM
("Admission"). It is expected that Admission will become effective and that
dealings in the New Ordinary Shares will commence on AIM at 8.00 a.m. on or
around 22 May 2025.

 

Following Admission, the Company's issued share capital will comprise
28,636,378,281 Ordinary Shares. The Company does not hold any Ordinary Shares
in treasury. 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 to their interest in, the
share capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

Capitalised terms in this announcement have the meaning ascribed to them in
the announcement released by the Company on 24 April 2025.

 

 

For further information, please contact:

 

 Sunda Energy Plc                                                   Tel: +44 (0) 20 7770 6424

 Andy Butler, Chief Executive

 Rob Collins, Chief Financial Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)       Tel: +44 (0) 203 328 5656

 Nick Athanas, Nick Harriss, Ashur Joseph (Corporate Finance)

 Kelly Gardiner, Stefano Aquilino (Sales and Corporate Broking)

 Hannam & Partners Advisory Limited (Advisor and Joint Broker)      Tel: +44 (0) 20 7907 8502

 Neil Passmore (Corporate Finance)

 Leif Powis (Sales)

 Celicourt Communications (Financial PR and IR)                     Tel: +44 (0) 20 7770 6424

 Mark Antelme, Philip Dennis, Charles Denley-Myerson                sunda@celicourt.uk

 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America. This announcement is not
an offer of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

 

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