Sound Energy PLC Successful Completion of Bond Restructuring (6034V)

TIDMSOU

RNS Number : 6034V

Sound Energy PLC

04 December 2023

4 December 2023

Sound Energy plc

("Sound Energy" or the "Company")

Successful Completion of Bond Restructuring

Sound Energy, the AIM-listed transition energy company , is pleased to announce that at the meeting of the holders (the "Noteholders") of the Company's Luxembourg listed EUR 28.8m 5.0% senior secured notes (the "Notes") held earlier today to consider the proposal for the restructuring of the Notes (the "Proposal"), the Proposal was duly approved by Noteholders by the requisite majority.

At the Noteholder meeting, quorum was reached with voting instructions representing EUR 15.7M of the Notes lodged by Noteholders, with 96.18% of votes cast in favour of the Proposal.

As a result of the Noteholders' approval of the Proposal, the prior obligation for the Company to commence amortisation of the Notes at a rate of 5.0% of the EUR 25.3M Notes principal outstanding every six months from 21 December 2023 until maturity in December 2027 has now been removed.

Notice of the result of the Noteholder meeting will shortly be sent to Noteholders and will be available on the Company's website at www.soundenergyplc.com thereafter.

For further information:

 
 Flagstaff Strategic and Investor Communications   Tel: 44 (0)20 129 1474 
  Tim Thompson 
  Mark Edwards                                      sound@flagstaffcomms.com 
  Alison Allfrey 
 Sound Energy 
  Graham Lyon, Executive Chairman                    chairman@soundenergyplc.com 
 Cavendish Capital Markets - Nominated 
  Adviser                                            Tel: 44 (0)20 7397 8900 
  Ben Jeynes 
  Peter Lynch 
 SP Angel Corporate Finance LLP - Broker 
 Richard Hail                                     Tel: 44 (0)7789 865 095 
 Gneiss Energy Limited - Financial 
  Adviser                                           Tel: 44 (0)20 3983 9263 
  Jon Fitzpatrick 
  Paul Weidman 
  Doug Rycroft

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END

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December 04, 2023 09:26 ET (14:26 GMT)

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