Sound Energy PLC - Proposed Placing
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The net proceeds of the Proposed Placing will be used to strengthen the Company's cash position (adding to the Company's cash balances of approximately
The due diligence process being undertaken by the counterparty in relation to the Partial Sale is ongoing, exclusivity for the period to
The Company cautions that there is currently no binding agreement in place in connection with the Partial Sale, that counterparty due diligence has not yet been completed and therefore that there can be no guarantee that the Partial Sale will be concluded successfully.
The new Ordinary Shares to be issued pursuant to the Proposed Placing will, when issued, rank pari passu in all respects with the Company's existing Ordinary Shares and application will be made for the new Ordinary Shares to be admitted to trading on AIM.
Further announcements in relation to the conclusion of the Proposed Placing will be made, as appropriate, in due course.
"On the back of the recent
For further information please contact:
Tel: +44 (0)20 7390 0230
Cenkos Securities - Nominated Adviser
Tel: +44 (0)20 7397 8900
RBC - Joint Broker
Tel: +44 (0)20 7653 4000
Tel: +44 (0)20 3031 2000
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.
The Placing does not constitute a public offer of securities in accordance with the provisions of Section 85 of the Financial Services and Markets Act 2000 and accordingly a prospectus will not be issued in the
This announcement does not constitute an offer of securities in the
This information is provided by RNS, the news service of the
Quick facts: Sound Energy PLC
Market Cap: £19.58 m
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