Business
Completion of Placing and Director Shareholding
Completion of Placing and Director Shareholding.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 1889S Sound Oil PLC 03 July 2015 \n\n3 July 2015\n \nSound Oil plc\n(\"Sound Oil\" or the \"Company\")\n \nCompletion of Placing and Director/PDMR Shareholding\n \nSound Oil, the Mediterranean focused upstream gas company, is pleased to announce the completion of the second tranche of the £12 million placing first announced by the Company on 28 April 2015 (the \"Placing\"). \n \nIssue of Equity and Warrants\n \nFollowing receipt of subscriptions and £2.88 million of cash, Sound Oil announces that it will be issuing 15,157,895 ordinary shares of 1p each in the Company (the \"New Ordinary Shares\") at a price of 19 pence per New Ordinary Share and 15,157,895 detachable/transferable warrants to subscribe for new Ordinary shares at a price of 24 pence per Ordinary Share for a period of 5 years from 22 May 2015 (\"Warrants\") to placees under the Placing. \n \nIt is the Company's intention that the Warrants will be listed on the Vienna Stock Exchange as soon as practicable and should, thereafter, be tradable in accordance with the rules of that exchange. The Company is finalising the process for effecting the listing of the Warrants on the third market of the Vienna Stock Exchange, and will provide a further update in due course. \n \nThe issue of the New Ordinary Shares and Warrants represents the second and final of the two tranches of Ordinary Shares and Warrants under the Placing. \n \nApplication will be made for the 15,157,895 New Ordinary Shares to be admitted to trading on AIM and it is expected that dealings will commence on 10 July 2015. Following the issue of the New Ordinary Shares, the Company will have 497,964,712 Ordinary Shares in issue and there are no shares held in treasury. This is the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, the Company under the Disclosure Rules and Transparency Rules.\n \nMetano Capital SA (\"Metano\"), a wholly owned subsidiary of Continental Investment Partners SA (\"Continental\"), will be issued with 14,026,316 New Ordinary Shares and 657,895 Warrants under the second tranche of the Placing. \n \nIn addition, Greenberry S.A., an affiliate ...