Sound Energy PLC Update re Divestment
21 October 2024 - 5:00PM
RNS Regulatory News
RNS Number : 8582I
Sound Energy PLC
21 October 2024
21 October 2024
Sound Energy
plc
("Sound
Energy", the "Company" and together with its subsidiary
undertakings the "Group")
Update re Moroccan Assets:
Binding agreement for the sale of share capital of Sound Energy
Morocco East Limited
Sound Energy, the transition energy
company, announces that further to the announcement of 14 June 2024
regarding the entry into a conditional binding Sale and Purchase
Agreement, 'SPA' for the partial divestment by Sound Energy
(AIM: SOU), of its Moroccan assets by way of the disposal by the
Company of the entire issued share capital of the Company's wholly
owned subsidiary Sound Energy Morocco East Limited ("SEME") to
Managem SA (the "Transaction"), the Company is pleased to confirm
the receipt of formal approval from the Moroccan
Minister of Energy Transition and
Sustainable Development to SEME
continuing as the Operator of record of the Tendrara Exploitation
Concession, and the Anoual and Grand Tendrara Exploration Permits,
following completion of the Transaction.
As announced by the Company on 27
September 2024, the Transaction remains conditional upon the
satisfaction or waiver by the parties of the remaining conditions
precedent to the SPA and further announcements will be made as
appropriate in due course.
For further information visit
www.soundenergyplc.com follow on X @soundenergyplc or
contact:
Flagstaff Strategic and Investor
Communications
Tim Thompson
Mark Edwards
Alison Allfrey
|
Tel: 44 (0)20 129 1474
sound@flagstaffcomms.com
|
Sound Energy
Graham Lyon, Executive
Chairman
|
chairman@soundenergyplc.com
|
Cavendish Capital Markets - Nominated
Adviser
Ben Jeynes
Peter Lynch
|
Tel: 44 (0)20 7220 0500
|
Zeus
- Broker
|
Tel: 44 (0)20 3829 5000
|
Simon Johnson
|
|
Gneiss Energy Limited - Financial Adviser
Jon Fitzpatrick
Paul Weidman
Doug Rycroft
|
Tel: 44 (0)20 3983 9263
|
END
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