Partial Conversion of Convertible Loan Note & TVR

Source: RNS
RNS Number : 6677I
Sound Energy PLC
18 October 2024
 

18 October 2024

 

Sound Energy plc

("Sound Energy" or the "Company")

 

Partial Conversion of Convertible Loan Note

 

Total Voting Rights

 

Sound Energy (AIM: SOU), the AIM listed transition energy company, advises that it has received conversion notices to issue 37,500,000 new Ordinary Shares ("Shares") at a conversion price of 1 pence per Share under an existing Convertible Loan Note Agreement, the terms of which were announced on 13 June 2023 ("Partial Interest Conversion"). The Convertible Loan Note has a remaining principal outstanding of £250,000 and the Partial Interest Conversion reduces the accrued interest owing on the Convertible Notes by £375,000, with £512,500 remaining.

 

An application has been made for the Shares to be admitted to trading on AIM ("Admission"). The Shares will rank pari passu with the existing ordinary shares in issue and it is expected that Admission will occur on or around 8.00 a.m. on 22 October 2024.

 

Following Admission, the Company's enlarged share capital will comprise 2,080,622,679 ordinary shares of 1p each, each with voting rights. This figure may be used by shareholders 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, securities of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

 

                                               

Flagstaff Strategic and Investor Communications

Tim Thompson

Mark Edwards

Alison Allfrey

 

sound@flagstaffcomms.com

Tel: +44 (0)20 129 1474

Sound Energy

Graham Lyon, Executive Chairman

 

 

chairman@soundenergyplc.com

Cavendish Capital Markets - Nominated Adviser

Ben Jeynes 

Peter Lynch 

 

Tel: +44 (0)20 7220 0500

Zeus - Broker

Simon Johnson

+44 (0)20 3829 5000

 

Gneiss Energy Limited - Financial Adviser

Jon Fitzpatrick

Paul Weidman

Doug Rycroft

 

 

Tel: +44 (0)20 3983 9263

 

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