Business
Open Offer and Notice of General Meeting
Open Offer and Notice of General Meeting.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 9415N Sound Oil PLC 21 May 2015 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION\n \n21 May 2015\n \nSound Oil plc\n(\"Sound Oil\" or the \"Company\")\n \nOpen Offer and Notice of General Meeting\n \nSound Oil, the European / Mediterranean focused upstream oil and gas company, announces that it will shortly be posting a circular to shareholders containing details of the open offer first announced by the Company on 18 May 2015 (the \"Circular\") and including a notice convening a general meeting of the Company at 12 noon on 8 June 2015 at the offices of Smith & Williamson at 25 Moorgate, London, EC2R 6AY. \n \nCapitalised terms in this announcement have the meanings given to them in the Circular, a copy of which will shortly be available from the Company's website at www.soundoil.co.uk. \n \nOpen Offer\n \nThe Open Offer is being made to Eligible Shareholders on the register as at the Record Date of up to 18,226,394 Open Offer Shares at an Issue Price of 19.0 pence per Open Offer Share to raise up to £3.46 million. \n \nEach Open Offer Share will be accompanied by a detachable Open Offer Warrant to subscribe for a new Ordinary Share at a price of 24.0 pence per new Ordinary Share for a period of 5 years from 22 May 2015. \n \nEligible Shareholders will be able to subscribe for Open Offer Shares on the basis of:\n \n1 Open Offer Share for every 23 Existing Ordinary Shares held at the Record Date\n \nThe Issue Price of 19.0 pence per Open Offer Share represents a discount of 15.6% to the closing mid-market price of the Company's ordinary shares on 20 May 2015, being the last practicable date before this announcement.\n \nShareholders subscribing for their full Open Offer Entitlement under the Open Offer may also request additional Open Offer Shares through the Excess Application Facility (further details of which are set out in the Circular).\n \nThe expected timetable of principal Open Offer events, as first announced by the Company on 18 May 2015, is as set out below.\n \n\n\n\n\nRecord Date for Open Offer\n \n\n\n5.00 p.m. on 15 May 2015\n\n\n\n\nEx...