Southern Energy Corp. SHARE PURCHASE PLAN, PDMR AND BLOCK ADMISSION (4166S)

TIDMSOUC

RNS Number : 4166S

Southern Energy Corp.

06 November 2023

EMPLOYEE SHARE PURCHASE PLAN, DIRECTOR/PDMR DEALINGS AND BLOCK ADMISSION SIX MONTHLY RETURN

Calgary, Alberta - November 6, 2023 - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV) (AIM:SOUC) (OTCQX:SOUTF) announces the following purchases of common shares ("Common Shares") under its Employee Share Purchase Plan, which was adopted by the Company on April 1, 2023 and is described in more detail in the Management Information Circular accompanying the 2023 Notice of Annual General Meeting. It is noted that such Common Shares purchased pursuant to the Employee Share Purchase Plan are subject to a six calendar month restriction on their sale.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation (as applied in UK law), provide further detail on the applicable transactions.

 
       Details of the person discharging managerial responsibilities 
  1.    / person closely associated 
 a)    Name                             1. Ian Atkinson 
                                         2. Calvin Yau 
                                         3. Gary McMurren 
      --------------------------  ------------------------------------------------ 
       Reason for the notification 
  2. 
      ---------------------------------------------------------------------------- 
 a)    Position/status                  1. Director, President and Chief Executive 
                                         Officer 
                                         2. Chief Financial Officer 
                                         3. Chief Operating Officer 
      --------------------------  ------------------------------------------------ 
 b)    Initial notification        Initial notification 
        /Amendment 
      --------------------------  ------------------------------------------------ 
       Details of the issuer, emission allowance market participant, 
  3.    auction platform, auctioneer or auction monitor 
      ---------------------------------------------------------------------------- 
 a)    Name                        Southern Energy Corp. 
      --------------------------  ------------------------------------------------ 
 b)    LEI                         213800R25GL7J3EBJ698 
      --------------------------  ------------------------------------------------ 
       Details of the transaction(s): section to be repeated for (i) 
  4.    each type of instrument; (ii) each type of transaction; (iii) 
        each date; and (iv) each place where transactions have been conducted 
      ---------------------------------------------------------------------------- 
 a)    Description of the          Common Shares in Southern Energy Corp. 
        financial instrument, 
        type of instrument 
 
       Identification code         CA8428131059 
 
 b)    Nature of the transaction   Purchase of Common Shares under the Company's 
                                    Employee Share Purchase Plan 
      --------------------------  ------------------------------------------------ 
 c)    Price(s) and volume(s)             Price      Volume 
                                      1.   CAD$0.27   12,273 
                                          ---------  ------- 
                                      2.   CAD$0.27   11,537 
                                          ---------  ------- 
                                      3.   CAD$0.27   11,537 
                                          ---------  ------- 
 d)    Aggregated information 
                                   N/A, single transaction for each PDMR 
 
 e)    Date of the transaction     2 November 2023 
      --------------------------  ------------------------------------------------ 
 f)    Place of the transaction    TSX Venture Exchange 
      --------------------------  ------------------------------------------------ 
 

Block Admission Six Monthly Update

Southern also announces the following update on its block admission of shares to be issued to holders of the outstanding warrants issued in 2021 (the "2021 Warrants") and the outstanding 8% convertible unsecured subordinated debentures issued on June 14, 2019 and January 15, 2021 (the "Convertible Debentures").

 
 Name of company:                           Southern Energy Corp. 
 Name of schemes:                           The Southern Energy Corp - warrants 
                                             issued in 2021 and the 8% convertible 
                                             unsecured subordinated debentures 
                                             issued on 1 4 June 2019 and 15 
                                             January 2021 
 Period of return:                          From: 6 May 2023 
                                             To: 5 November 2023 
 Balance of unallotted securities           15,856,250 Common Shares 
  under scheme(s) from previous return: 
 The amount by which the block scheme(s)    Nil Common Shares 
  has been increased since the date 
  of the last return (if any increase 
  has been applied for): 
 Number of securities issued/allotted       46,875 Common Shares 
  under the scheme during the period: 
 Number of securities lapsed under          Nil Common Shares 
  the schemes during the period: 
 Balance under the schemes of securities    15,809,375 Common Shares 
  not yet issued at the end of the period 
  subject to the block admission: 
 
 

For further information, please contact :

 
                             Southern Energy Corp. 
      Ian Atkinson (President and CEO)                      [phone] 
      Calvin Yau (CFO)                                      [phone] 
                  Strand Hanson Limited - Nominated & Financial 
                                     Adviser 
    James Spinney / James Bellman                        [phone] 
 
                   Stifel Nicolas Europe Limited - Joint Broker 
    Callum Stewart / Ashton Clanfield / Simon Mensley     [phone] 
 
                        Tennyson Securities - Joint Broker 
    Peter Krens / Pav Sanghera                            [phone] 
 
                         Canaccord Genuity - Joint Broker 
    Henry Fitzgerald-O'Connor / James Asensio             [phone] 
 
                                     Camarco 
    Owen Roberts / Billy Clegg / Hugo Liddy               [phone] 
 

About Southern Energy Corp.

Southern Energy Corp. is a natural gas exploration and production company. Southern has a primary focus on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. Our management team has a long and successful history working together and have created significant shareholder value through accretive acquisitions, optimization of existing oil and natural gas fields and the utilization of re-development strategies utilizing horizontal drilling and multi-staged fracture completion techniques.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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November 06, 2023 02:00 ET (07:00 GMT)