Sound Energy PLC Director/PDMR Shareholding (1672M)
11 October 2016 - 5:00PM
UK Regulatory
TIDMSOU
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 Warrants to subscribe for new
instrument, type of instrument ordinary shares of GBP0.01
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)
---- ---------------------------------------- ------------------ --------------------
GBP0.50 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 Tel: +44 (0)20 7830 9700
Patrick d'Ancona
Chris McMahon
Alexandra Roper
---------------------------------- -----------------------------
Sound Energy j.parsons@soundenergyplc.com
James Parsons, Chief Executive
Officer
---------------------------------- -----------------------------
Smith & Williamson - Nominated Tel: +44 (0)20 7131 4000
Adviser
Azhic Basirov
David Jones
Ben Jeynes
---------------------------------- -----------------------------
Cantor Fitzgerald Europe - Broker Tel: +44 (0)20 7894 8896
Sarah Wharry
David Porter
---------------------------------- -----------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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