3 February 2020
Sound Energy plc
("Sound Energy" or the "Company")
Sound Energy, the Moroccan focused upstream gas company, announces that it has today been notified that Brian Mitchener, the Company's Exploration Director, sold 500,000 ordinary shares in the Company at a price of 1.71 pence per ordinary share on 31 January 2020 (the "Disposal").
Following the Disposal, Mr. Mitchener is now interested in 5,455,555 Ordinary Shares in the Company, representing 0.47 per cent. of the Company's issued ordinary share capital.
Mr. Mitchener will step down from the Board with effect from 31 March 2020 and the Disposal is part of the intended sale of a proportion of Mr. Mitchener's shareholding in the Company to cover tax and national insurance liabilities arising from an issue of new ordinary shares to Mr. Mitchener announced on 27 January 2020.
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
Sale of ordinary shares
Price(s) and volumes(s)
NA (single transaction)
Date of the transaction
31 January 2020
Place of the transaction