Sound Energy Share Discussion Threads

[telbap] 26/12/2023 20:42

Lol .....look it up.

[ohdearohdearohdear] 22/12/2023 10:12

Pardon? Could you try again in English?

Ta.

[telbap] 22/12/2023 10:05

You truely are a corner.

[ohdearohdearohdear] 22/12/2023 10:00

2024 will finally see the end of SOU imo. Sad, but other explorers in Morocco will swat SOU aside. Pity. They had first mover advantage but squandered it through a combination of bravado and incompetance.

Well deserved and overdue retirement for GL.

[b33661] 22/12/2023 07:36

You too Merry Christmas and all the best for 2024, perhaps things will happen for you here, but the seeming lack of progress and extended delays are odd here. Good luck.

[telbap] 21/12/2023 22:46

It appears that that has not happened, harva, we see lots of on going works on site, so let's see. As I said before if it sinks I won't be happy but equally I won't be destitute:)Merry Christmas ?

[b33661] 21/12/2023 14:14

Ok telbap. Did the partner and bank funding ever get sorted. I seem to recall there were deadlines in September time but can't see any reference on their website.

[b33661] 14/12/2023 07:02

I guess not then.....

[xerot] 13/12/2023 17:47

Best thing about this firm is Grahan Lyon.

[steelwatch] 13/12/2023 16:55

Some recent activity at TE-6 & 7 I see:

[b33661] 13/12/2023 14:58

Quiet times. Is anyone still invested here? Just seen share price at new record low. Still no news on funding etc?

[steelwatch] 04/12/2023 19:11

Oh Christ!

[jaknife] 04/12/2023 18:54

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

[steelwatch] 04/12/2023 18:36

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

"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"



Hopefully that largely will see an end to the ongoing death spiral, at least until they can get phases 1 & 2 up and running.

[jaknife] 04/12/2023 13:16

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

[telbap] 04/12/2023 11:53

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. I think I might take another £2k worth only cos I am quite deep here already.

[telbap] 01/12/2023 17:14

So finally today the bid has moved up to 0.79, let's see what Mondays open brings to us.

[telbap] 24/11/2023 17:13

Playing with the so via spread again. True price has not moved

[telbap] 22/11/2023 13:23

https://x.com/soundenergyplc/status/1727221158058377609?s=46&t=PPjpXzl_aMkKEK4wZLMVNw Moving on nicely. We will see some good news soon I feel...

[telbap] 03/11/2023 18:38

Well short news and almost zero sales. Hmmmmm I wonder what that says?

[shymas] 30/10/2023 11:44

Patience is needed..this beauty is going in the right direction.only way is up and up now.

[telbap] 30/10/2023 11:12

Playing games again with the spread. Let's see if the move the bid up at close to bridge the gap.

[telbap] 30/10/2023 09:59

But deck me has it taken some time!!!