Last checked at 15 Aug 2016 16:05
15 August 2016
Sound Energy plc
("Sound Energy" or the "Company")
Director/PDMR Shareholding
Sound Energy, the Mediterranean / European focused upstream gas company, announces that it has been notified of a number of disposals of the Company's warrants by Greenberry S.A. ("Greenberry") as summarised below:
Number of warrants disposed of | Exercise price (pence) | Disposal price (pence) | Date |
1,315,790 | 24 | nil | 12-Aug-2016 |
3,802,630 | 24 | 0.2 | 12-Aug-2016 |
21,514,752 | 30 | nil | 12-Aug-2016 |
13,168,957 | 30 | 0.1 | 12-Aug-2016 |
Marco Fumagalli, a director of the Company, is Managing Partner of, and a 25% shareholder in, Continental Investment Partners SA ("Continental"). Greenberry is an affiliate of Continental by virtue of its common ownership. Whilst there is no change to Mr Fumagalli's beneficial interest arising from such transfer, included in the transactions shown above is a transfer of 15,000,000 warrants (exercisable at 30 pence per share) from Greenberry to Mr Fumagalli for nil consideration (this transfer was part of a transfer to Greenberry's shareholders in proportion to their shareholdings).
The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Greenberry S.A. | |
2 | Reason for the notification | ||
a) | Position/status | Notification concens a PCA, being a legal person the managerial responsibilities of which are discharged by Marco Fumagalli, a PDMR (Non-Executive Director of Sound Energy plc). | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Sound Energy plc | |
b) | LEI | - | |
4 | Details of the transaction(s): section to be repeated for (i) 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 financial instrument, type of instrument | Warrants to subscribe for new ordinary shares of £0.01 each | |
Identification code | GB00B90XFF12 | ||
b) | Nature of the transaction | Disposal of warrants (note: the warrant disposals shown below include the transfer of 15,000,000 warrants (exercisable at £0.30 per share) to Marco Fumagalli for £nil) | |
c) | Price(s) and volumes(s) | Price(s) | Volume(s) |
(1) Disposal of warrants with £0.24 exercise price £nil £nil £0.002 £0.002 (2) Disposal of warrants with £0.30 exercise price £nil £nil £nil £nil £nil £nil £nil £nil £nil £nil £nil £nil £0.001 £0.001 £0.001 £0.001 £0.001 £0.001 £0.001 £0.001 £0.001 | (1) Disposal of warrants with £0.24 exercise price 657,895 657,895 2,862,332 940,298 (2) Disposal of warrants with £0.30 exercise price 2,083,000 208,333 62,500 1,000,000 125,000 187,500 312,500 577,256 260,417 312,500 692,708 692,708 15,000,000 8,300,000 260,433 260,400 692,708 295,000 600,000 1,666,666 1,093,000 | ||
d) | Aggregated information | ||
Aggregated volume | (1) 5,118,420 warrants (2) 34,683,709 warrants | ||
Price | (1) £0.0015 (2) £0.0004 | ||
e) | Date of the transaction | 12 August 2016 | |
f) | Place of the transaction | Outside of a trading venue | |
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information on Sound Energy visit www.soundenergyplc.com or contact:
Vigo Communications - PR Adviser Patrick d'Ancona Chris McMahon Alexandra Roper | Tel: +44 (0)20 7830 9700 |
Sound Energy James Parsons, Chief Executive Officer
|
j.parsons@soundenergyplc.com |
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes | Tel: +44 (0)20 7131 4000 |
Cantor Fitzgerald Europe - Broker Sarah Wharry David Porter |
Tel: +44 (0)20 7894 8896 |