Sound Energy PLC Successful £26.9 million Fundraising at Market (1280Q)
November 25 2016 - 2:00AM
UK Regulatory
TIDMSOU
RNS Number : 1280Q
Sound Energy PLC
25 November 2016
25 November 2016
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION
WOULD BE PROHIBITED BY ANY APPLICABLE LAW.
Sound Energy plc
("Sound Energy" or the "Company")
Successful GBP26.9 million Fundraising at Market
Sound Energy, the European and African focused upstream gas
company, yesterday announced the launch of institutionally
underwritten Offers to raise GBP24.1 million at 81 pence per New
Ordinary Share. The Offers closed at 5.00 p.m. on 24 November
2016.
The Company is delighted to announce that following excess
applications under the Offers the overall size of the Offers has
been increased. The Company has therefore accepted applications to
subscribe for an aggregate of 33,239,323 New Ordinary Shares
resulting in gross proceeds of GBP26.9 million being raised.
The Company has therefore today issued and allotted a total of
33,239,323 New Ordinary Shares to satisfy the Offers and, as a
result of the excess applications, application has been made to the
London Stock Exchange for an additional 3,440,436 New Ordinary
Shares, which 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 30 November 2016.
The net proceeds of the Offers are approximately GBP24.3
million.
Total Voting Rights
Following the issue of the New Ordinary Shares, the Company will
have 618,224,223 ordinary shares of 1p each in issue ("Ordinary
Shares"). No Ordinary Shares are held in treasury. The figure of
618,224,223 may be used by the Company's shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the Financial Conduct Authority's
Disclosure Rules and Transparency Rules.
Defined terms used in this announcement not otherwise defined
shall have the same meaning as those terms defined and used in the
"Underwritten Offers to Raise GBP24.1 million" announcement
released by the Company on 24 November 2016.
Vigo Communications - PR Adviser Tel: +44 (0)20 7830
Patrick d'Ancona 9700
Chris McMahon
Alexandra Roper
Sound Energy j.parsons@soundenergyplc.com
James Parsons, Chief Executive
Officer
Smith & Williamson - Nominated Tel: +44 (0)20 7131
Adviser 4000
Azhic Basirov
David Jones
Ben Jeynes
PrimaryBid Limited Tel: +44 (0)20 7491
Dave Mutton 6519
info@primarybid.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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