Sound Energy PLC Update re Divestment

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: [phone] [e-mail]
Sound Energy Graham Lyon, Executive Chairman	[e-mail]
Cavendish Capital Markets - Nominated Adviser Ben Jeynes  Peter Lynch	Tel: [phone]
Zeus - Broker	Tel: [phone]
Simon Johnson
Gneiss Energy Limited - Financial Adviser Jon Fitzpatrick Paul Weidman Doug Rycroft	Tel: [phone]

 

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