Board Change

RNS Number : 5674S

Sound Energy PLC

07 November 2019

 

7 November 2019

Sound Energy plc

("Sound Energy" or the "Company")

Board Change

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 Patrick d'Ancona Chris McMahon	Tel: [phone]
Sound Energy James Parsons, Chief Executive Officer	[e-mail]
Cenkos Securities - Nominated Adviser Azhic Basirov Ben Jeynes	Tel: [phone]
RBC - Joint Broker Matthew Coakes Martin Copeland	Tel: [phone]
Macquarie Capital (Europe) Limited - Joint Broker Alex Reynolds Nick Stamp	Tel: [phone]

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.

 

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