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Pin to quick picksSound Energy Share News (SOU)

Share Price Information for Sound Energy (SOU)

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Share Price: 0.951
Bid: 0.902
Ask: 1.00
Change: 0.00 (0.00%)
Spread: 0.098 (10.865%)
Open: 0.00
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UK WINNERS & LOSERS SUMMARY: Cairn Jumps On USD1.2 Billion Dispute Win

Wed, 23rd Dec 2020 10:35

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Wednesday.

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FTSE 100 - WINNERS

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International Consolidated Airlines, up 1.9%. Europe on Wednesday began lifting travel bans on Britain put in place to contain a new fast-spreading Covid strain. France was reopening cross-border travel with Britain Wednesday but a negative Covid-19 test will be required, while the Netherlands also said it was lifting its ban beginning Wednesday but noted that all passengers, including EU citizens, must have a recent negative test to enter.

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FTSE 250 - WINNERS

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Cairn Energy, up 28%. The oil & gas exploration and development company said a tribunal established to rule on its claim against the Indian government found in the company's favour, to the tune of USD1.2 billion. Cairn's claim was brought under the terms of the UK-India Bilateral Investment Treaty. The tribunal ruled unanimously that India had breached its obligations to Cairn under the treaty and has awarded Cairn damages of USD1.2 billion plus interest and costs, which now becomes payable. The dispute between Cairn Energy and the Indian government stretches back to early 2014, when the Indian government froze Cairn Energy's 10% stake in Cairn India following the introduction of retrospective tax legislation.

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OTHER MAIN MARKET AND AIM - WINNERS

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Carclo, up 24%. The West Yorkshire-based plastic parts manufacturer said it has signed a framework agreement with a major global original equipment manufacturer for the production of medical diagnostic disposable devices. Carclo said the agreement with the unnamed company allows the award of production contracts to its Carclo Technical Plastics division for the manufacture of a range of diagnostic products over the next ten years. Carclo added that production contracts are expected to be awarded in the first half of its financial year ending March 31, 2022, with full production volumes expected to be achieved in the second half of financial 2022. At full rate of production, the contracts are expected to deliver annual revenue of between GBP10 million to GBP15 million.

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Sound Energy, up 18%. The Moroccan-focused upstream gas firm said it has signed a letter of exclusivity with Italian exploration services provider Italfluid Geoenergy. Under the letter, both companies have agreed to negotiate and enter into a binding project contract which will commit Italfluid to design, construct, commission, operate and let to Sound Energy a micro liquefied natural gas plant. The plant can produce LNG, and will treat and process raw gas from the phase one development project for TE-5 Horst at the Tendara production concession. The period of exclusivity will last until the end of March 2021. The proposed project contract has an initial period of five years, with an initial payment of USD5 million to Italfluid within 30 days of the notice to proceed with phase one, and USD2 million within 30 days of the successful commissioning of the mLNG plant.

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SEC Newgate, up 12%. The public relations firm announced the acquisition of a 60% interest in German consultancy Orca Affairs for a maximum of EUR3.5 million. SEC Newgate will acquire the interest in four tranches of 15% per year until 2024. The Milan-based company will make an initial payment of EUR700,000 on April 1 next year and will make three deferred cash payments in 2022, 2023 and 2024 through an earn-out mechanism linked to Orca's earnings before interest, tax, depreciation and amortisation. As a result, the total consideration for the acquisition ranges from EUR2.2 million to EUR3.5 million. In 2019, Orca's pretax profit was EUR2.2 million, on revenue of EUR10.5 million. The acquisition is expected to be earnings enhancing in 2021, and Orca being part of SEC Newgate will help it build its business at a local, regional, national and international level.

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OTHER MAIN MARKET AND AIM - LOSERS

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Infrastrata, down 8.0%. The infrastructure projects firm has proposed to raise up to GBP7.4 million through a placing and open offer of shares, with the cash to be used for acquisitions and working capital. Infrastrata will issue 14.2 million shares at a price of 45 pence each through the placing to raise GBP6.4 million, and 2.2 million shares at the same price to existing shareholders through an open offer to raise GBP1.0 million. The placing will be conducted in two tranches, with GBP4.0 million from the first tranche and GBP2.4 million from the second. Proceeds from the share issue will go towards the acquisition of a robotic welding panel line and other yard refurbishment programmes in preparation for the award of fabrication contracts. Additionally, the boost to working capital will improve Infrastrata's negotiating position on new contract opportunities.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
4 Dec 2023 15:36

Sound Energy noteholders vote in favour of bond restructuring

(Alliance News) - Sound Energy PLC noteholders on Monday voted in favour of restructuring the company's bonds.

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25 Oct 2023 17:28

TRADING UPDATES: Franchise Brands trading in line; Tribe secures loan

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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21 Sep 2023 15:47

EARNINGS: Aurora Investment recovers; Chesnara swings to profit

(Alliance News) - The following is a round-up of earnings of London-listed companies, issued on Thursday and not separately reported by Alliance News:

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13 Sep 2023 13:32

IN BRIEF: Sound Energy says Morocco assets unaffected by earthquake

Sound Energy PLC - London-based, Morocco-focused upstream gas company - Says its Morocco assets are unaffected by the recent earthquake on Friday last week. This is after completing a survey of its assets located in its Sidi Moktar onshore exploration permits, located around 100 kilometres to the northwest of the earthquake epicentre, in which it found none were affected by the earthquake and all personnel were accounted for. Notes its other assets are located a significant distance from affected areas and so are also therefore unaffected.

Read more
1 Sep 2023 21:29

IN BRIEF: Sound Energy in partial conversion of convertible loan note

Sound Energy PLC - London-based, Morocco-focused upstream gas company - Receives conversion notices to issue 22.2 million shares at a conversion price of 2.25 pence each under an existing GBP2.5 million convertible loan note agreement, the terms of which were announced on June 13. The partial conversion reduces the amount owing on the convertible notes by GBP500,000, with GBP1.5 million remaining.

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28 Jun 2023 10:46

AIM WINNERS & LOSERS: Aferian expects reduced interim revenue

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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28 Jun 2023 10:31

Sound Energy receives financing offer for gas field project in Morocco

(Alliance News) - Sound Energy PLC on Wednesday said that Casablanca-based Attijariwafa offered to finance the second phase of its development of the Tendrara production concession in Morocco.

Read more
22 Jun 2023 15:07

Sound Energy resolves tax disputes with Moroccan authorities

(Sharecast News) - Sound Energy has successfully resolved its tax disputes with the Moroccan Tax Authority, it announced on Thursday.

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22 Jun 2023 10:58

IN BRIEF: Sound Energy says Moroccan tax court case formally closed

Sound Energy PLC - London-based, Morocco-focused upstream gas company - Receives court papers confirming withdrawal of Moroccan tax cases. Says court cases between the company and Moroccan tax authorities now formally closed. Back in November, Sound Energy's subsidiary Sound Energy Morocco SARL AU challenged the Moroccan Court about the tax assessments levied against SEMS.

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22 Jun 2023 10:17

AIM WINNERS & LOSERS: Biome wins contract; Oracle raises GBP363,000

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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22 Jun 2023 08:57

LONDON MARKET OPEN: FTSE 100 struggles ahead of anticipated BoE hike

(Alliance News) - Stock prices in London opened lower on Thursday, ahead of the Bank of England's interest rate decision at midday, which is expected to result in the central bank's 13th consecutive hike.

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13 Jun 2023 11:14

Sound Energy shares jump amid Tendrara deal with Calvalley Petroleum

(Alliance News) - Sound Energy PLC said on Tuesday that it had secured a 45 day binding period and a non-binding term sheet with Calvalley Petroleum Ltd in the Tendrara exploitation concession and the Grand Tendrara exploration permit in Morroco.

Read more
6 Jun 2023 15:47

UK shareholder meetings calendar - next 7 days

Wednesday 7 June 
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Gem Diamonds LtdAGM
Gulf Marine Services PLCAGM
Hostmore PLCAGM
LXi REIT PLCAGM
Pennant International Group PLCAGM
Third Point Investors LtdAGM
United Oil & Gas PLCAGM
Xpediator PLCGM re takeover by DLM Bidco
Thursday 8 June 
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Camellia PLCAGM
Checkit PLCAGM
Churchill China PLCAGM
CRH PLCCourt Meeting and EGM re proposal to transfer the company's primary listing to NYSE
Downing Renewables & Infrastructure Trust PLCAGM
Fair Oaks Income LtdAGM
Fusion Antibodies PLCGM re result of retail offer
Genflow Biosciences PLCAGM
Glenveagh Properties PLCAGM
Kavango Resources PLCAGM
Kosmos Energy LtdAGM
Melrose Industries PLCAGM
North American Income Trust PLCAGM
Oriole Resources PLCAGM
Panther Metals PLCAGM
REA Holdings PLCAGM
Renalytix PLCGM re director's authorization to allot new shares and equity securities for cash
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Friday 9 June 
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Devolver Digital IncAGM
Fulham Shore PLCGM and court meeting re takeover by Torridoll Holdings Corp
Hochschild Mining PLCAGM
Mirada PLCGM re cancellation and re-registration as PLC
MP Evans Group PLCAGM
S4 Capital PLCAGM
Sureserve Group PLCCourt Meeting and GM re acquisition by CAP10 
Monday 12 June 
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Learning Technologies Group PLCAGM
Oxford Nanopore Technologies PLCAGM
Pembridge Resources PLCGM and Creditors' Meeting re future plans and objectives
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Staffline Group PLCAGM
VPC Specialty Lending Investments PLCGM re investment policy
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Asiamet Resources LtdAGM
Centrica PLCAGM
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Elixirr International PLCAGM
Flowtech Fluidpower PLCAGM
Frenkel Topping Group PLCAGM
Great Western Mining Corp PLCAGM
Newbury Racecourse PLCAGM
Plant Health Care PLCAGM
Pressure Technologies PLCGM re delay to the publication of the FY22 Annual Report and directors' remuneration
Sound Energy PLCAGM
Zinnwald Lithium PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
4 May 2023 14:40

IN BRIEF: Sound Energy shares up as annual profit jumps

Sound Energy PLC - Morocco-focused upstream gas company - Posts annual results for 2022. Records no revenue, like in 2021. Pretax profit grows to GBP6.6 million from GBP2.5 million in 2021. This is mostly due to a foreign exchange gain of GBP5.5 million. In 2021, foreign exchange gain was GBP2.2 million. "2022 was a year of real tangible progress for Sound Energy, with the micro-[liquefied natural gas] development at Tendrara contracted to deliver maiden revenue in early 2024," says Executive Chair Graham Lyon.

Read more
4 May 2023 11:34

AIM WINNERS & LOSERS: Sound Energy shares rise ahead of maiden revenue

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

Read more

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