7 November 2019
Sound Energy plc
("Sound Energy" or the "Company")
Sound Energy, the Moroccan focused upstream gas company, provides an update on Board changes following the announcement made by the Company on 6 November 2019 in relation to a potential partial divestment of its Eastern Morocco Portfolio.
As the Company has entered the final phase of the marketing process for its Eastern Morocco Portfolio and following the award of exclusivity agreement announced on 6 November 2019, the Company is planning to make various changes to its Board in order to ensure it has the appropriate management and cost structure in place for the next phase of Company's development. The Company expects, as part of the potential transaction which is under negotiation, to hand over operatorship of its Eastern Morocco Portfolio to a third party and to become a carried, non-operating company.
The Company, therefore, announces that JJ Traynor, the Company's CFO, will on 6 February 2020 step down from the Board and leave the Company. His duties will be divided among the Company's other staff.
For further information please contact:
Vigo Communications - PR Adviser
Tel: 44 (0)20 7390 0230
James Parsons, Chief Executive Officer
Cenkos Securities - Nominated Adviser
Tel: 44 (0)20 7397 8900
RBC - Joint Broker
Tel: 44 (0)20 7653 4000
Macquarie Capital (Europe) Limited - Joint Broker
Tel: 44 (0)20 3031 2000
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.