Issue of Equity, Director Shareholding and TVR

RNS Number : 0455B

Sound Energy PLC

27 January 2020

 

27 January 2020

Sound Energy plc

("Sound Energy" or the "Company")

Issue of Equity, Director/PDMR Shareholding and Total Voting Rights

Sound Energy, the Moroccan focused upstream gas company, announces, further to the Company's announcement of 20 January 2020, that the Company has today issued 5,805,555 new ordinary shares in the Company (the "New Ordinary Shares") to Brian Mitchener, the Company's Exploration Director, at an effective issue price of 1.86 pence per New Ordinary Share in connection with the termination of his employment contract.

As previously announced on 20 January 2020, Mr. Mitchener will step down from the Board with effect from 31 March 2020.

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 31 January 2020.

Following the issue of the New Ordinary Shares, Mr. Mitchener will be interested in 5,955,555 Ordinary Shares in the Company, representing 0.51 per cent. of the Company's issued ordinary share capital.

It is intended that a proportion of the New Ordinary Shares will be sold by Mr. Mitchener to cover tax and national insurance liabilities arising from their issue and a further announcement will be made in this regard as appropriate.  

Following the issue of the New Ordinary Shares, the Company will have 1,161,842,819 Ordinary Shares in issue with no shares held in treasury. This is the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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 Patrick d'Ancona Chris McMahon	Tel: [phone]
Sound Energy	[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]

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		Brian Mitchener
2		Reason for the notification
a)		Position/status		PDMR (Director)
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		213800VQKS2TU6FOW115
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		Issue of ordinary shares of 1p each in settlement of termination of employment
c)	Price(s) and volumes(s)		Price(s)		Volume(s)
			£0.0186		5,805,555
d)	Aggregated information		NA (single transaction)
	Aggregated volume
	Price
e)	Date of the transaction		27 January 2020
f)	Place of the transaction		Outside a trading venue

 

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