9 April 2018
Sound Energy PLC
("Sound Energy" or the "Company")
Completion of Italian Divestment
Further to the announcements made on 22 January 2018, 7 March 2018 and 13 March 2018 and the circular to shareholders published on 23 January 2018, Sound Energy, the Moroccan focused upstream company, confirms that the divestment of the entire issued share capital of the Company's wholly owned subsidiary, Sound Energy Holdings Italy Limited ("SEHIL") to Coro Energy plc ("Coro", which was previously named Saffron Energy plc) completed this morning.
As a result, Sound Energy Shareholders who were on the register at 6:00pm on the Repayment Record Date of 3 April (announced to the market on 7 March 2018) have been issued with their pro rata entitlement to the consideration payable by Coro, being an aggregate of 185,907,500 (subject to rounding of fractional entitlements) new ordinary shares in the capital of Coro (the "Coro Consideration Shares").
As of today's date, the Coro Consideration Shares represent approximately 25.9% of the enlarged issued share capital of Coro, which was re-admitted to trading under its new name this morning.
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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
RBC Capital Markets - Joint Broker
Tel: 44 (0)20 7653 4000
Macquarie Capital (Europe) Limited - Joint Broker
Tel: 44 (0)20 3031 2000