Sound Energy PLC

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: +44 (0)20 7390 0230

Sound Energy

JJ Traynor, Chief Financial Officer

 

 

[email protected]

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes

 

Tel: +44 (0)20 7131 4000

RBC Capital Markets - Broker

Matthew Coakes

Martin Copeland

 

Tel: +44 (0)20 7653 4000

 

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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