27 January 2020
Sound Energy plc
("Sound Energy" or the "Company")
Issue of Equity, Director/PDMR Shareholding and Total Voting Rights
Sound Energy, the Moroccan focused upstream gas company, announces, further to the Company's announcement of 20 January 2020, that the Company has today issued 5,805,555 new ordinary shares in the Company (the "New Ordinary Shares") to Brian Mitchener, the Company's Exploration Director, at an effective issue price of 1.86 pence per New Ordinary Share in connection with the termination of his employment contract.
As previously announced on 20 January 2020, Mr. Mitchener will step down from the Board with effect from 31 March 2020.
Application has been made to the London Stock Exchange plc for the New Ordinary Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 31 January 2020.
Following the issue of the New Ordinary Shares, Mr. Mitchener will be interested in 5,955,555 Ordinary Shares in the Company, representing 0.51 per cent. of the Company's issued ordinary share capital.
It is intended that a proportion of the New Ordinary Shares will be sold by Mr. Mitchener to cover tax and national insurance liabilities arising from their issue and a further announcement will be made in this regard as appropriate.
Following the issue of the New Ordinary Shares, the Company will have 1,161,842,819 Ordinary Shares in issue with no shares held in treasury. This is the total number of voting rights in the Company 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further details.
For further information please contact:
Vigo Communications - PR Adviser
Tel: 44 (0)20 7390 0230
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
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
Details of the person discharging managerial responsibilities / person closely associated
Reason for the notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Sound Energy plc
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
Description of the financial instrument, type of instrument
Ordinary shares of 1p each
Nature of the transaction
Issue of ordinary shares of 1p each in settlement of termination of employment
Price(s) and volumes(s)
NA (single transaction)
Date of the transaction
27 January 2020
Place of the transaction
Outside a trading venue