3rd Mar 2026 07:00
3 March 2026
Sound Energy PLC
("Sound Energy", the "Company" and together with its subsidiary undertakings the "Group")
Conversion of Convertible Loan Note Interest, Issue of New Shares and Total Voting Rights
Sound Energy PLC (AIM: SOU), the AIM quoted transition energy company, announces that it has received notice to issue 8,310,198 new Ordinary shares of 0.1 pence each (the "Shares") at a conversion price of 6.85 pence per share ("Conversion Price") in respect of accrued interest totalling £568,750 from the £2.5 million convertible loan notes issued in June 2023 (the "Conversion Notice"). The Conversion Price being calculated as the arithmetic average of the VWAP for any five of the fifteen consecutive trading days preceding the date of the Conversion Notice, as selected by the holder.
An application has been made for the Shares to be admitted to trading on AIM ("Admission"). The Shares will rank pari passu with the existing ordinary shares in issue and it is expected that Admission will occur on or around 8.00 a.m. on 6 March 2026.
Following Admission of the Shares, the Company's issued share capital will comprise 216,154,466 Ordinary Shares of 0.1 pence each with voting rights in the Company and 2,180,000 Sanctioned Holding Shares of 1.0 pence each totalling 218,334,466 Ordinary Shares. The figure of 218,334,466 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in the interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
For further information please visit www.soundenergyplc.com, follow on X @soundenergyplc and LinkedIn or contact:
Sound Energy plc c/o Flagstaff Communications Majid Shafiq CEO | |
Flagstaff Strategic and Investor Communications Tim Thompson, Mark Edwards, Alison Allfrey | +44 (0)207 129 1474 |
Zeus - Nominated Adviser and Broker James Joyce, Darshan Patel, Liv Highton (Investment Banking) Simon Johnson (Corporate Broking) | +44 (0)20 3829 5000 |
About Sound Energy PLC:
Sound Energy is a transition energy investment opportunity, listed on the UK AIM market of the London Stock Exchange, with operations in Morocco centred around onshore exploration, development and production of gas and advancing renewable power generation initiatives. Gas is the focal transition fuel and critical to the country's energy policy to move to sustainable, local renewable energy, away from imported coal and hydrocarbon fuels. The company has a 25-year development concession with a micro- LNG development underway at Tendrara, the first major onshore gas resource in Morocco, and a larger Phase 2 piped gas project awaiting FID. Small scale LNG will supply the industrial market, whilst the piped gas development is for the power sector. Exploration wells are funded to support infrastructure led exploration potential. Together these give the company significant opportunities for scalable growth on its 28,000 square km of onshore permits. Sound Energy is therefore playing a pivotal role in responding to rising energy demand in Morocco and facilitating the energy transition. This is further enhanced by Sound's recent early-stage diversification into opportunities in renewable power generation and hydrogen exploration in Morocco. Sound has strong stakeholder engagement and partnerships with leading Moroccan companies, thereby leveraging in-country expertise in renewable energy projects and its gas developments. Financially, the company is focused on revenue targets from Phase 1 LNG production, judicious investment for the Phase 2 piped gas development and prudent cost management and balance sheet deleveraging to fund asset development opportunities.
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