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SOU Sound Energy Plc

0.966
0.031 (3.32%)
Last Updated: 10:52:51
Delayed by 15 minutes
Sound Energy Investors - SOU

Sound Energy Investors - SOU

Share Name Share Symbol Market Stock Type
Sound Energy Plc SOU London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.031 3.32% 0.966 10:52:51
Open Price Low Price High Price Close Price Previous Close
0.92 0.92 0.966 0.935
more quote information »
Industry Sector
OIL & GAS PRODUCERS

Top Investor Posts

Top Posts
Posted at 19/2/2024 12:54 by steelwatch
Full Presentation and Q&A recording just notified:
Posted at 15/2/2024 14:53 by b33661
They own very few if any shares, 1-2m most. That says it all. It's a critical indicator for any investor. Do they have skin in the game? This lot don't. That's a very bad sign to me.
Posted at 04/12/2023 18:54 by jaknife
steelwatch,

"Aye, but after that £250k conversion, there's only £250k left outstanding and, since you posted JakNife @ 13:16, see RNS today @ 14:26:"

No!

That's how much of the principal that's left outstanding but there's also a huge chunk of accrued interest that needs to be dealt with. Let's go back to the original RNS:




"The first tranche of the Convertible Notes comprises £2.5 million with a fixed conversion price of 2.25 pence per ordinary share, a premium of approximately 28% to the closing price of 1.76 pence per ordinary share on 12th June 2023."

^^ This paragraph is designed to sucker in retail punters with the implication that the loan will be converted at a share price of 2.25p. However, you have to carry on reading to get to the skank:


"Upon conversion, interest shall be rolled up and paid as if the Convertible Notes were held to the redemption date (being five years from draw down), with such interest convertible at the lower of the applicable fixed conversion price and the average of the five daily VWAP calculations selected by the Investor out of the 15 trading days prior to the conversion date."

The interest rate is 15% and hence, for every chunk of £250,000 of convertible, interest will accrue of:

£250,000 principal x 15% interest rate x 5 years = £187,500

Furthermore, the conversion price for this is linked to the current VWAP (Volume Weighted Average Price) rather than being fixed at 2.25p.

Hence, after the last £250,000 of principal is converted, there will then be another £1,875,000 worth of shares to be issued and the price at which those shares are issued is largely irrelevant to the convertible investor because they will forward sell the shares that they expect to receive thus creating the VWAP price at which they are then converted.

JakNife
Posted at 04/12/2023 13:16 by jaknife
telbap,

"Well it’s clear the MMS have zero stock, who would sell at this low price? It’s now a waiting game for the eventual value to out and if you have the nerves, buying more at these low low prices."

Have you not been reading the RNSs? Sound have a death spiral loan and the death spiral loan investor sells £250,000 worth of shares EVERY month. Just last Thursday they RNSd the latest share dump:



There are still oodles of shares for them to sell, after they've sold the shares arising from the principal element of the bond they then have the shares to sell from the accrued interest element of the bond and they're the ones that get converted on a VWAP basis!

JakNife
Posted at 24/9/2023 11:02 by napoleon 14th
Good "find", steelwatch. Definitely worth reading for those interested.
I see it comprises dilution; c.40% off the top of my head.
I presume a simple loan package from the Moroccan state body was not available?

So, there's an estimated/projected 300 to 400% capital gain to go for over the next
two years, attractive to new investors as there is a productive and profitable asset
to develop, & as long as gas prices hold their current attributed value at US$90bbl.

What about those who bought shares before the dusters killed the share price by 95%?
If (big IF) they find more gas after further drilling, things could be a lot better.
That is speculation, which cost the followers of James Parsons a huge %age loss
on their investment. I've toyed with the idea of buying at the sub-1p level but
so far have followed other prospects.
Posted at 21/9/2023 05:52 by telbap
@B33661. Your post 14 days ago......I?m sorry telbap, I disagree. At least a placement would have a definitive end and you could price the impact. Right now the share price is trading 0.77, -18% on the day and far further to go. They?ve completely horsed this up and are locked away avoiding investors.We are back to 1p and it looks like we will climb up from here. You were incorrect with your prediction/ assumptions......What class A drug were you on at the time?
Posted at 07/9/2023 13:54 by b33661
I'm sorry telbap, I disagree. At least a placement would have a definitive end and you could price the impact. Right now the share price is trading 0.77, -18% on the day and far further to go. They've completely horsed this up and are locked away avoiding investors.
Posted at 07/9/2023 12:35 by telbap
Another way to look at it would be....if they had tried to get a placing away for 2.5m£ best bet would have been 1.25p, probably less which would have been 200m shares. That's a big "if" he could have drummed up enough institutional interest.Personally I believe he was in between a rock and a hard place, to which ever way he went, most investors would have been peed off! Value will out, once they get the Italian connection sorted, they will be liquid again, can kill off the draw they have used, and cancel the balance.
Posted at 07/9/2023 08:05 by b33661
Yes, you can see that in the rns. For the whole 5yrs. It was an incredibly carp deal dressed up by GL as far better than it is. Yet again giving away the family silver this time by huge dilution of equity after recent asset dilution. What I don't like most is the under hand and devious way mgt have communicated this. Dressing it up as a good deal, when in fact no SH here is benefitting, just getting watered down month after month. It's all about the company, not the SH. They are two very different things and that is very clearly not understood by 90% of aim investors imho
Posted at 17/8/2023 08:37 by b33661
I ask again telbap, do you ever try to get responses out of the company? Have you asked them why the now over 3 week delay past the exclusivity funding deadline? Why the lng tank isn't installed yet? Why they seem to have been selective with the truth around future funding? They won't and don't respond. They know they've been caught again feeding carp to their investors and are morally weak in terms of character. There is hardly any buying and a continued size seller just depressing the share price day after day with no end in sight. At £20m ish mcap now all the unjustified and utterly unrealistic crowing by investors about the untapped value in this business means nothing. At £21m there's little net value seen and HUGE risks for equity holders. That comes straight back to the door of the absent and self serving management team as is always the case here. No progress, no revenue, no cash flow, means no value. Simple as that.

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