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Sound Energy - Moroccan-focused gas explorer and producer - Bondholders approve restructuring of EUR 28.8 million 5.0% senior secured notes due in June. Maturity of notes extended by six years to December 2027. Notes to be partially amortised by 5% every six months starting December 2023. EUR3.5 million of notes to be converted into shares priced at 2.13p each. Notes will pay 2% interest per annum and 3% deferred interest at redemption.
Current stock price: 3.08 pence, up 18% on Wednesday.
Year-to-date change: more than double
By Ivan Edwards; ivanedwards@alliancenews.com
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