Business
Underwritten Offers to Raise £24.1 million
Underwritten Offers to Raise £24.1 million.
About this update from Sound Energy Plc
[{"type":"text","content":"\n \nRNS Number : 0318Q Sound Energy PLC 24 November 2016 \n\n24 November 2016 \n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \nNOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.\n \nTHIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (\"FSMA\") AND HAS BEEN APPROVED BY DARWIN STRATEGIC LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY. PRIMARYBID LTD IS AN APPOINTED REPRESENTATIVE OF DARWIN STRATEGIC LIMITED.\n \n \nSound Energy plc \n(\"Sound Energy\" or the \"Company\")\n \nInstitutionally Underwritten Offers to Raise £24.1 million at Market via PrimaryBid\n \nSound Energy, the European and African focused upstream gas company, is pleased to announce fully-underwritten offers to raise £24.1 million (before expenses) by the issue and allotment by the Company of 29,798,887 new ordinary shares of 1p each in the Company (\"New Ordinary Shares\") at an offer price of 81 pence per New Ordinary Share, being approximately yesterday's closing mid price per Sound Energy ordinary share (the \"Offer Price\"). In addition, the Company is pleased to provide private and other investors with an opportunity to participate in this issue by applying exclusively through the PrimaryBid.com platform. \n \nHighlights\n \n· Offers at 81 pence per new Ordinary Share (approximately the closing mid price per Ordinary Share on 23 November 2016) to raise an aggregate of £24.1 million (the \"Offers\")\n \n· The two Offers, which are described below, are fully underwritten by two UK based, financial institutions\n \n· Net proceeds of the Offers will be applied towards development activity on the Company's Tendrara licence, onshore Moro...