Sound Energy PLC Results of Adjourned Noteholder Meeting (2527I)

TIDMSOU

RNS Number : 2527I

Sound Energy PLC

10 December 2020

10 December 2020

Sound Energy plc

("Sound Energy" or the "Company")

Results of Adjourned Noteholder Meeting

Sound Energy, the Moroccan focused upstream gas company , announces that, further to the Company's announcement of 28 October 2020 in respect of the Company's proposal set out in its Consent Solicitation Memorandum (the "Proposal") for the restructuring of the Company's Luxembourg listed EUR 28.8m 5.0% senior secured notes (the "Notes"), and to its subsequent announcement of 12 November 2020 in respect of the meeting of the holders of the Notes (the "Noteholders") to consider the Proposal and its adjournment, with the adjourned Noteholder meeting to consider the Proposal convened on 10 December 2020 (the "Adjourned Noteholder Meeting"), the following result of that meeting.

The Adjourned Noteholder Meeting met the required quorum of 25 per cent. of the aggregate principal amount of the outstanding Notes, the Proposal reached a simple majority however failed to receive the necessary majority in favour of three-quarters of the votes cast at such meeting, required to approve the Proposal by way of Extraordinary Resolution, consequently, the Proposal was therefore not approved.

The Company continues to consult with Noteholders and further announcements will be made, as appropriate, in due course.

For further information please contact:

 
 Vigo Communications - PR Adviser                       Tel: [phone] 
  Patrick d'Ancona                                                    0230 
  Chris McMahon 
 Sound Energy                                 [e-mail] 
  Graham Lyon, Executive Chairman 
 
   Cenkos Securities - Nominated Adviser                Tel: [phone] 
   Ben Jeynes                                                         8900 
   Russell Cook 
 Turner Pope Investments (TPI) Ltd - Broker           Tel: [phone] 
  Andy Thacker 
 

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December 10, 2020 07:33 ET (12:33 GMT)