Sound Energy in Share Placing

Wednesday, July 4, 2018

Sound Energy has issued a placing of new ordinary shares to raise $15 million before costs. The net proceeds of the placing of approximately $14.25 million will strengthen the company’s cash position as it initiates its high-impact three-well exploration program in Morocco.

The company issued, conditional on admission, 30,829,308 new ordinary shares of 1p each at a placing price of 37p per placing share. The placing shares will, when issued, rank pari passu in all respects with the existing ordinary shares.  Application will be made for the Placing Shares to be admitted to trading on AIM and admission is expected to take place on or around July 6.

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