CLON16 May 2025 08:18
Further to the Company's announcement on 13 May 2025, Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, announces that it has received notice from each of the three investors (collectively the "Investors") who participated in the CLN fundraising, in each case to convert all of the outstanding balance of their Loan Notes (the "Outstanding Balance") into ordinary shares of 0.025 pence each in the Company ("Ordinary Shares").
The conversion price of the Outstanding Balance is 0.03995 pence (the "Conversion Price"), which, in accordance with the terms of the Loan Notes, is a 15% discount to the lowest daily volume weighted average trading price on any of the 20 business days prior to the issue of each individual conversion notice (being 0.047 pence).
Accordingly, the Company will issue in aggregate 3,125,594,493 new Ordinary Shares (the "New Ordinary Shares") to the Investors (the "Conversion").
In addition, the Company has granted Warrants to the Investors pursuant to the Conversion. In aggregate, 1,803,227,592 Warrants have been granted to the Investors. One Warrant will entitle the Investors to subscribe for one Ordinary Share, at a 30% premium to the Conversion Price, being 0.051935 pence.