16 August 2016
Sound Energy plc
("Sound Energy" or the "Company")
Sound Energy, the Mediterranean / European focused upstream gas company, announces that it has been notified of a further disposal of 15,000,000 of the Company's warrants (exercisable at 30 pence per share) by Greenberry S.A. ("Greenberry") on 12 August 2016.
Following this disposal and the disposals announced on 15 August 2016, Greenberry has informed the Company that a significant proportion of the warrants disposed of were transferred to institutions and that it has no current intention of making any further warrant transfers nor of exercising any of the warrants it holds.
Marco Fumagalli, a director of the Company, is Managing Partner of, and a 25% shareholder in, Continental Investment Partners SA ("Continental"). Greenberry is an affiliate of Continental by virtue of its common ownership.
The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
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
Notification concens a PCA, being a legal person the managerial responsibilities of which are discharged by Marco Fumagalli, a PDMR (Non-Executive Director of Sound Energy plc).
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
Warrants to subscribe for new ordinary shares of £0.01 each at an exercise price of 30 pence per share
Nature of the transaction
Disposal of warrants
Price(s) and volumes(s)
N/A (single transaction)
Date of the transaction
12 August 2016
Place of the transaction
Outside of a trading venue
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information on Sound Energy visit www.soundenergyplc.com or 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