Director/PDMR Shareholding and Issue of Equity

RNS Number : 4560R

Sound Energy PLC

21 September 2017

 

21 September 2017

Sound Energy plc

("Sound Energy" or the "Company")

Director/PDMR Shareholding and Issue of Equity

Sound Energy, the African and European focused upstream gas company, announces that James Parsons, the Company's Chief Executive Officer, has today exercised a total of 3,350,000 options to subscribe for new ordinary shares in the Company at an exercise price of 8 pence per share (the "Option Exercise").

Mr Parsons has also advised the Company that he has today sold 1,878,904 ordinary shares in the Company at an average price of 48 pence per ordinary share to cover the costs of the Option Exercise and associated tax, retaining the net amount.

As a result of the Option Exercise, the Company will issue a total of 3,350,000 new ordinary shares in the capital of the Company (the "New Ordinary Shares"). The New Ordinary Shares have been admitted to trading on AIM as part of a block admission announced on 22 December 2016. Following the issue of the New Ordinary Shares, the Company will have 1,007,455,799 ordinary shares in issue.

Following the Option Exercise, Mr Parsons is now beneficially interested in a total of 3,192,283 ordinary shares in the Company, representing 0.32% of the Company's issued ordinary share capital, as enlarged by the issue of the New Ordinary Shares. In addition, Mr Parsons remains interested in options to subscribe for up to a further 4,250,000 new ordinary shares in the Company, subject to vesting criteria being met.

For further information please contact:

Vigo Communications - PR Adviser Patrick d'Ancona Chris McMahon Alexandra Roper	Tel: [phone]
Sound Energy James Parsons, Chief Executive Officer	[e-mail]
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes	Tel: [phone]
RBC Capital Markets - Broker Matthew Coakes Martin Copeland Laura White	Tel: [phone]

The notifications below, made in accordance with the requirements of the Market Abuse Regulation, provide further detail.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Parsons
2	Reason for the notification
a)	Position/status	PDMR (Chief Executive Officer)
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sound Energy plc
b)	LEI	-
4	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
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1p each
	Identification code	GB00B90XFF12
b)	Nature of the transaction	Exercise of Options
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.08	3,350,000
d)	Aggregated information	N/A (single transaction)
	Aggregated volume
	Price
e)	Date of the transaction	21 September 2017
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Parsons
2	Reason for the notification
a)	Position/status	PDMR (Chief Executive Officer)
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sound Energy plc
b)	LEI	-
4	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
a)	Description of the financial instrument, type of instrument	Ordinary shares of 1p each
	Identification code	GB00B90XFF12
b)	Nature of the transaction	Sale of ordinary shares
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.48	1,878,904
d)	Aggregated information	N/A (single transaction)
	Aggregated volume
	Price
e)	Date of the transaction	21 September 2017
f)	Place of the transaction	London Stock Exchange (XLON)

 

END

 

 

MSCOKDDNDBKDDCB