Source - RNS
RNS Number : 1672M
Sound Energy PLC
11 October 2016
 

 11 October 2016

 

Sound Energy plc

("Sound Energy" or the "Company")

 

Director/PDMR Shareholding

 

Sound Energy, the European and African focused upstream gas company announces that,  following an approach to the Company by a large UK financial institution wishing to secure an equity position, it has been notified that Greenberry S.A. ("Greenberry") has sold, to the above pre-identified institution, 10,000,000 of the Company's warrants to subscribe for new ordinary shares in the Company expiring 21 June 2021 (the "Warrants").  This transaction occurred on 10 October 2016 at a price of 50 pence per Warrant.  Should the Warrants be exercised, the acquisition price of ordinary shares for the new Warrant holder (inclusive of the 30 pence per share exercise price) would therefore be 80 pence per new ordinary share, representing a 5.9 per cent. discount to the closing mid market price per Sound Energy ordinary share of 85.0 pence on 10 October 2016.

 

The Company looks forward to the introduction of further institutions to the shareholder register.

 

Marco Fumagalli, a director of the Company, is Managing Partner of, and a 25% shareholder in, Continental Investment Partners SA ("Continental").  Greenberry is an affiliate of Continental by virtue of its common ownership.

 

The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Greenberry S.A.

2

Reason for the notification

a)

Position/status

Notification concens a PCA, being a legal person the managerial responsibilities of which are discharged by Marco Fumagalli, a PDMR (Non-Executive Director of Sound Energy plc).

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

Warrants to subscribe for new ordinary shares of £0.01 each at an exercise price of 30 pence per share

 

Identification code

GB00B90XFF12

b)

Nature of the transaction

Disposal of warrants

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

£0.50

10,000,000

d)

Aggregated information

N/A (single transaction)

 

Aggregated volume

 

 

Price

 

e)

Date of the transaction

10 October 2016

f)

Place of the transaction

Outside of a trading venue

 

This announcement is inside information for the purposes of article 7 of Regulation 596/2014.

 

For further information please contact:

 

Vigo Communications - PR Adviser

Patrick d'Ancona

Chris McMahon

Alexandra Roper

 

Tel: +44 (0)20 7830 9700

Sound Energy

James Parsons, Chief Executive Officer 

 

[email protected]

 

Smith & Williamson - Nominated Adviser

Azhic Basirov

David Jones

Ben Jeynes 

 

Tel: +44 (0)20 7131 4000

Cantor Fitzgerald Europe - Broker

Sarah Wharry

David Porter

 

Tel: +44 (0)20 7894 8896

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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