Director/PDMR Shareholding and Issue of Equity

RNS Number : 9988B

Sound Energy PLC

26 September 2018

 

26 September 2018

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 pursuant to an equity equalisation trading plan entered into and announced on 26 April 2018 (the "Trading Plan"), James Parsons, the Company's Chief Executive Officer, yesterday exercised a total of 1,250,000 options to subscribe for new ordinary shares in the Company at an exercise price of 14.2p pence per share (the "Option Exercise").

The Company has also been advised that Mr Parsons has sold 839,378 ordinary shares in the Company under the Trading Plan at a price of 38.12p pence per ordinary share, covering 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 1,250,000 new ordinary shares in the capital of the Company (the "New Ordinary Shares"). 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 2 October 2018 ("Admission"). On Admission, the Company will have 1,052,913,182 ordinary shares in issue.

Following the Option Exercise, Mr Parsons is now beneficially interested in a total of 2,602,905 ordinary shares in the Company, representing 0.247% 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 3,000,000 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 Kate Rogucheva	Tel: [phone]
Sound Energy JJ Traynor, Chief Financial Officer	[e-mail]
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes	Tel: [phone]
RBC Capital Markets - Broker Matthew Coakes Martin Copeland	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 under share trading plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.142	1,250,000
d)	Aggregated information	N/A (single transaction)
	Aggregated volume
	Price
e)	Date of the transaction	25 September 2018
f)	Place of the transaction	Outside of 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 under share trading plan
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
		£0.3812	839,378
d)	Aggregated information	N/A (single transaction)
	Aggregated volume
	Price
e)	Date of the transaction	25 September 2018
f)	Place of the transaction	AIMX

 

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