19 September 2016
Sound Energy plc
("Sound Energy" or the "Company")
Sound Energy, the European and African focused upstream company, announces that, further to the block admissions first announced by the Company on 7 August 2015, applications have been made for the block admissions of up to a further 37,189,119 ordinary shares of 1p each in the Company (the "New Ordinary Shares") to trading on AIM (the "Block Admissions"). The New Ordinary Shares are expected to be issued from time to time pursuant to the exercise of warrants to subscribe for new ordinary shares of 1p each in the Company ("Ordinary Shares").
The New Ordinary Shares are expected to be admitted to trading on AIM on 22 September 2016 and will, when issued, rank pari passu with the Company's existing Ordinary Shares.
The Block Admissions have been made in respect of the issue of Ordinary Shares pursuant to the exercise of: (i) warrants issued by the Company in 2015 to subscribe for new Ordinary Shares at a price of 24.0p per new Ordinary Share (the "2015 Warrants"); and (ii) warrants issued by the Company in 2016 to subscribe for new Ordinary Shares at a price of 30.0p per new Ordinary Share (the "2016 Warrants"), in the below amounts:
Following admission, the Company will continue to have 538,201,804 ordinary shares of 1p each in issue with no shares being held in treasury. This is the total number of voting rights in Sound Energy and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Rules and Transparency Rules.
As a result of the Block Admissions, the Company will have a total of 107,640,360 Ordinary Shares admitted to trading on AIM under block admissions in respect of Ordinary Shares which may be issued from time to time pursuant to the exercise of: (i) warrants issued by the Company in 2014 to subscribe for new Ordinary Shares at a price of 10.4p per new Ordinary Share (the "2015 Warrants"); (ii) the 2015 Warrants; and (iii) the 2016 Warrants.
Total block admissions
For further information please contact:
Vigo Communications - PR Adviser
Tel: 44 (0)20 7830 9700
James Parsons, Chief Executive Officer
Smith & Williamson - Nominated Adviser
Tel: 44 (0)20 7131 4000
Cantor Fitzgerald Europe - Broker
Tel: 44 (0)20 7894 8896