Sound Energy PLC Results of Adjourned Noteholder Meeting (2527I)
December 10 2020 - 6:33AM
UK Regulatory
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: 44 (0)20 7390
Patrick d'Ancona 0230
Chris McMahon
Sound Energy questions@soundenergyplc.com
Graham Lyon, Executive Chairman
Cenkos Securities - Nominated Adviser Tel: 44 (0)20 7397
Ben Jeynes 8900
Russell Cook
Turner Pope Investments (TPI) Ltd - Broker Tel: (0)20 3657 0050
Andy Thacker
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END
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