Announcement • May 29
Sound Energy plc, Annual General Meeting, Jun 22, 2026 Sound Energy plc, Annual General Meeting, Jun 22, 2026. Location: 20 st dunstans hill, ec3r 8hl, london United Kingdom New Risk • May 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €7.19m (US$8.36m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£5.4m free cash flow). Share price has been highly volatile over the past 3 months (117% average daily change). Negative equity (-UK£5.1m). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€7.19m market cap, or US$8.36m). New Risk • May 22
New major risk - Negative shareholders equity The company has negative equity. Total equity: -UK£5.1m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£5.4m free cash flow). Share price has been highly volatile over the past 3 months (115% average daily change). Negative equity (-UK£5.1m). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (UK£295k revenue, or US$396k). Minor Risk Market cap is less than US$100m (€12.3m market cap, or US$14.3m). Announcement • May 16
Sound Energy plc, Annual General Meeting, Jun 17, 2025 Sound Energy plc, Annual General Meeting, Jun 17, 2025. Location: 20 st dunstans hill, ec3r 8hl, london United Kingdom Announcement • Feb 24
Sound Energy plc Announces Resignation of Mohammed Seghiri as Director Sound Energy plc announced that Mohammed Seghiri, the Company's Chief Operating Officer, has resigned as a director of the Company with immediate effect and will leave the full-time employment of the Group by mutual agreement on 31 March 2025. Following the completion of the Group's sale of Sound Energy Morocco East Limited to Managem SA (‘Managem’), Mr. Seghiri will be taking up full time employment with Managem - in doing so supporting the uninterrupted transition of the operatorship of the Tendrara Production Concession. Announcement • Dec 12
Managem S.A. (CBSE:MNG) completed the acquisition of Sound Energy Morocco East Limited from Sound Energy plc (AIM:SOU). Managem S.A. (CBSE:MNG) agreed to acquire Sound Energy Morocco East Limited from Sound Energy plc (AIM:SOU) for $14.5 million on June 14, 2024. SPA consideration payable to and on behalf of the Group includes $12.0 million in Concession Phase 1 development back costs through to July 2024 net to a 55% interest in the Concession and payable to the Group in cash on completion; $1.0 million in back costs in respect of Concession Phase 2 development and Permits back costs payable to the Company in cash on completion; Up to $24.5 million net carry through Managem funding of the Group's remaining 20% interest in future Concession Phase 2 development. oContingent consideration of $1.5 million payable to the Group no later than one year after first gas from Concession Phase 2 development.; $3.6 million net carry through funding the Group's remaining 27.5% Grand Tendrara Permit interest in drilling exploration well SBK-1; and $2.6 million net carry through funding the Group's remaining 27.5% Anoual Permit interest in drilling exploration well M5. Sale of the entire share capital of SEME with an effective date of 1 January 2022, pursuant to which Managem will acquire the following interests in the Group's Moroccan assets, 55.0% of the Concession (Sound Energy to retain 20% interest), 47.5% of the Grand Tendrara Permit (Sound Energy to retain 27.5% interest), and 47.5% of the Anoual Exploration Permit (Sound Energy to retain 27.5% interest). Ben Jeynes and Peter Lynch of Cavendish Capital Markets acted as nominated adviser, Jon Fitzpatrick, Paul Weidman and Doug Rycroft of Gneiss Energy Limited acted as Financial Adviser and Mohammed Benslimane, and Reda Benjelloun of Advisory & Finance Group Investment Bank acted as M&A advisor to Sound Energy. The transaction remains conditional upon approvals by ONHYM and the Moroccan Minister of Energy of the Company continuing as the Operator of record of the Tendrara Exploitation Concession, and the Anoual and Grand Tendrara Exploration Permits where required, approval of ONEE of the change of control of the Company pursuant to the ONEE GSA, approval of Managem's board of directors of the Transaction, removal of Sound Energy Morocco SARL AU as dormant subsidiary of SEME and receipt of Moroccan Competition Council's authorisation. As of October 21, 2024, minister of Energy Transition & Sustainable Development approved the deal.
Managem S.A. (CBSE:MNG) completed the acquisition of Sound Energy Morocco East Limited from Sound Energy plc (AIM:SOU) on December 11, 2024. Announcement • Sep 02
Sound Energy plc Announces Completion of Work over Operations Sound Energy plc confirmed, further to the company's announcement of 15 August 2024, the release and demobilization of the Star Valley Rig 101 to the Tendrara Production Concession having fully completed the work over operations on the gas wells TE-6 and TE-7 in preparation for long term gas production into the micro-LNG plant currently under construction at site. The works were completed safely with no recordable incidents. The company has successfully replaced the tubing head spool and ran new corrosion resistant completion tubing into TE-7. The rig will be stacked at the TE-7 site, at no on-going cost to the company. Announcement • Aug 15
Sound Energy Announces Operations Update Sound Energy announced, further to the Company's announcement of 25 June 2024, that the planned work over operations on the gas well TE-7 in preparation for long term gas production into the micro-LNG plant currently under construction at site have resumed following the arrival of additional wellhead equipment. The operation to run new completion tubing into TE-7, will utilize the Star Valley Rig 101 currently located on the Tendrara Production Concession. The rig had been stacked on site at no additional cost to the Group awaiting the arrival of the additional wellhead equipment. In June 2024, the Company successfully pulled the existing completion tubing in both TE-6 and TE-7 and ran new corrosion resistant completion tubing into TE-6 and installed the Production Christmas Tree. Following importation of the additional well surface equipment a similar operation at TE-7 will now proceed. The Company thanks the dedication and professionalism of our contractors and suppliers, and the Office National des Hydrocarbures et des Mines for their ongoing partnership and support. Announcement • Jun 25
Sound Energy plc Announces Demobilisation of Rig for Work over Operations Sound Energy plc announced the release and demobilisation of the Star Valley Rig 101 having conducted planned work over operations on the gas wells TE-6 and TE-7 in preparation for long term gas production into the micro LNG plant currently under construction at site by Italfluid Geoenergy S.r.l. The works were completed safely with no recordable incidents. The Company thanks the dedication and professionalism of their contractors and suppliers, and the Office National des Hydrocarbures et des Mines ("ONHYM") for their ongoing partnership and support. The Company has successfully pulled the existing completion tubing in both TE-6 and TE-7 and run new corrosion resistant completion tubing into TE-6 which is now available to supply gas to commission the micro LNG plant which construction is anticipated to be completed later this year. The rig is currently stacked at the TE-7 site, at no on-going cost to the Company, whilst the Company awaits additional wellhead equipment to complete the running of the new completion tubing into TE-7. Further announcements will be made, as appropriate, in due course. Announcement • May 16
Sound Energy plc, Annual General Meeting, Jun 13, 2024 Sound Energy plc, Annual General Meeting, Jun 13, 2024. Location: 20 st dunstans hill, ec3r 8hl, london United Kingdom Announcement • Apr 30
Sound Energy plc Provides Exploration Permit Update Sound Energy plc provided by the Company on 22 December 2022 and to continued constructive discussions with Morocco's L'Office National des Hydrocarbures et des Mines ("ONHYM"), to provide a further update regarding amendments to its exploration permits at Anoual (the "Amendments"), and entry into the optional Complementary Period under the exploration permits at Anoual. The Anoual exploration permits cover 8,873 square kilometres in Eastern Morocco (the "Anoual Exploration Permits"). The Amendments and entry into the Complementary Period remain subject to Moroccan Energy and Finance Ministerial approval. Anoual Exploration Permits: The Company also reported that ONHYM has now agreed on a 18-month extension to the initial period of the Anoual Exploration Permits to 8 July 2024. Subject to Ministerial approval, the length of the Anoual Initial Period will now be 6 years and 10 months, commencing on or about 8 September 2017 and ending on or about 7 July 2024. The work programme commitments for the Initial Period, details of which are provided below, will also be amended. In addition, subject to Ministerial approval, to the extension to the Initial Period, ONHYM has also approved the merging of the optional First Complementary and the Second Complementary Periods under the Anoual Exploration Permits into a single Complementary Period consisting of 3 years and 8 months to or about 7 March 2028 (the "Anoual Complementary Period"). As a result, the Anoual Exploration Permits now have a total duration of 10 years and 6 months and the remaining work commitments under the Anoual Exploration Permits, as revised, will be as follows: Initial Period of 6 years and 10 months from or about 8 September 2017: The acquisition of FTG-aerogradiometry and 600 kilometres of 2D seismic. This requirement has historically been fulfilled by the Company. Geological and Geophysical Studies. This requirement has historically been fulfilled by the Company. The Company has therefore fully satisfied the work commitments under the Initial Period of the Anoual Exploration Permits and the Company confirms it has submitted an application to enter the Anoual Complementary Period commencing on or about 7 July 2024. The work commitment under the Anoual Complementary Period, of a further 3 years and 8 months to conclude on or about 7 March 2028 will require: a firm commitment to the drilling of one exploration well with a Triassic objective and the option, at the discretion of the Company, as the operator of the Anoual Exploration Permits, of the acquisition of 150 square kilometres of 3D seismic if the firm commitment exploration well is positive and drilling of one further exploration well with a Triassic objective. The Company plans to fulfil the firm commitment for the Anoual Complementary Period with the drilling of the M5 exploration well detailed in the Company's announcement of 9 August 2022. New Risk • Apr 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (158% average daily change). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (7.8% increase in shares outstanding). Market cap is less than US$100m (€22.2m market cap, or US$24.0m). Buy Or Sell Opportunity • Feb 03
Now 96% undervalued after recent price drop Over the last 90 days, the stock has fallen 94% to €0.0005. The fair value is estimated to be €0.013, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Sep 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (50% average daily change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Market cap is less than US$100m (€18.6m market cap, or US$19.9m). Announcement • Jun 27
Sound Energy plc Announces Appointment of Simon Ashby-Rudd as Independent Non-Executive Director Sound Energy plc announced the appointment of Mr. Simon Ashby-Rudd to the Board as Independent Non-Executive Director. Simon is an international energy banking specialist with more than 35 years of experience spanning the globe. His career includes 30 years in investment banking roles with both large financial institutions including Dresdner Kleinwort Benson, Citigroup and finally Standard Bank where he was head of oil, gas and renewables, and specialist energy advisory boutiques including Waterous & Co and Tristone Capital. Mr. Ashby-Rudd's career has focused on corporate strategy and capital structuring, incorporating a broad range of Equity, Debt and M&A experience. In 2020 Mr. Ashby-Rudd established Treyford Energy Limited which provides independent advice to growth orientated energy companies both in the traditional hydrocarbon space and increasingly in the emerging energy transition sector. Simon holds a B.Sc. in Economics from University College London. Simon will join the Audit and Remuneration and Nominations committees of the Board. Announcement • Jun 14
Sound Energy plc announced that it expects to receive £4 million in funding Sound Energy plc announced a private placement of £4 million senior unsecured convertible loan notes and 33,333,333 warrants on June 12, 2023. The transaction will include participation from an institutional investor. The maturity date of the convertible notes is five years from draw down date which is December 13, 2028, with interest of 15% and a fixed conversion price of £0.00225 per ordinary share. The investor shall have two trading days to elect to convert some or all of outstanding amounts or accept the early redemption. In the event of default, convertible notes will be redeemable immediately at 120% of par value of outstanding convertible notes plus accrued interest. The company will issue 33,333,333 warrants to subscribe for new ordinary shares in the company at an exercise price of £0.00225 per ordinary share with a term of three years.
On the same date the company received £2.5 million senior unsecured convertible loan notes in it's first tranche closing. The second tranche of the convertible notes comprises a further £1.5 million, which can be drawn on 13 December 2023 (being six months from the first tranche draw down) and can be drawn sooner if mutually agreed by the company and the Investor. when the second tranche is drawn down, additional warrants over such number of new ordinary shares as represents 30% of the par value of tranche 2 convertible notes drawn down, with an exercise price at the conversion price of the tranche 2 convertible notes and a term of three years. Announcement • May 27
Sound Energy plc Announces Directorate Change Sound Energy, plc announced that after almost 9 years as an active Non-Executive Director and former Acting Chairman of the Company Mr. Marco Fumagalli intends to announce his resignation from the board immediately after the conclusion of the company Annual General Meeting on 13th June 2023 in order that he may pursue other business opportunities. The Company intends to replace Marco with an independent NED in due course. Announcement • May 14
Sound Energy plc, Annual General Meeting, Jun 13, 2023 Sound Energy plc, Annual General Meeting, Jun 13, 2023, at 11:00 Coordinated Universal Time. Location: 20 St Dunstan's Hill London United Kingdom Agenda: To receive the audited annual accounts of the Company for the year ended 31 December 2022 together with the Director's report, the Strategic report and the Auditor's report on those annual accounts; to consider the Crowe UK LLP be re-appointed as the Auditor of the Company, to hold office from the conclusion of this AGM to the conclusion of the next general meeting at which accounts are laid before the Company; and to consider any other matters. Announcement • Nov 30
Sound Energy plc Provides Micro LNG Development Progress Sound Energy plc provide a progress update on its Phase 1 micro LNG development and announce an amendment to the project contract(the "Project Contract")entered into between Italfluid Geoenergy S.r.l.(the "Contractor")and Sound Energy's wholly owned subsidiary, Sound Energy Morocco East Limited ("SEMEL" and together with the Contractor, the "Parties"), in respect of the design, procurement, construction, operation and maintenance of Tendrara Concession micro LNG facilities onshore Morocco. The Contractor was previously provided with 'Notice to Proceed' under the Project Contract, as confirmed by the Company on 16 February 2022. Good progress continues to be made on the Company's Phase 1 micro LNG development, with construction of the LNG storage tank ongoing and wellhead work undertaken. Work on the LNG storage tank has included site preparation, excavation for the tank foundation, laying the concrete base for the tank foundation, laying reinforcing bar and installing the reinforced concrete columns on the base, of which there are 60 in total and each 4m high. Once complete, the tank will stand 24m high and be 22m in diameter. Wellhead inspection and remedial well servicing work at TE-6, one of the first of two wells to be put on production in Phase 1, was also completed safely in September. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Non-Executive Director Marco Fumagalli is the most experienced director on the board, commencing their role in 2014. Senior Independent Non-Executive Director Christian Eduard Wilhelm Bukovics was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Oct 21
Sound Energy plc Announces Update Re Exploration Permits Sound Energy provided an update regarding its exploration permits at Sidi Moktar and Grand Tendrara. The Sidi Moktar exploration permits cover approximately 4,712 square kilometres in Southern Morocco with an initial period, as previously extended, of 4 years and 6 months within the total duration of 10 years commencing on or about 9 April 2018. The prior extension to the Initial Period was announced by the Company on 13 October 2020, when it was confirmed that the Sidi Moktar permit Initial Period had been extended by 24-months such that the Initial Period, as extended, was to end by 9 October 2022 (the "Amendment"). The Amendment resulted from the Company and Morocco's Office National des Hydrocarbures et des Mines (ONHYM) declaring an event of force majeure during the Initial Period due to continued disruption caused by the impact of the COVID-19 pandemic. Notwithstanding the Initial Period having ended prior to the work commitments thereunder having been completed, the Company has been and remains in regular dialogue with the regulatory authorities and ONHYM in order that the Company may reach a solution to complete the committed work programme following the ending of the Initial Period and progress the exploration of this highly prospective basin. The work commitments for the Initial Period of the Sidi Moktar permits remain to acquire and process 500 kilometres of 2D seismic, a short well test of the Koba-1 well and abandonment of Koba-1 and Kamar-1, if required. The Grand Tendrara exploration permits cover approximately 14,411 square kilometres in Eastern Morocco and, following completion of the initial period of 4 years within the total duration of 8 years commencing on or about 1 October 2018, the Company reports that it has submitted, having completed the necessary work commitments during the Grand Tendrara initial period, an application to ONHYM to enter the optional first extension period consisting of 2 years. The work commitment for the first extension period comprises the drilling one exploration well with a Triassic objective. The company expects to fulfil this commitment by the planned subsalt drilling opportunities within the Trias Argilo-Gréseux Inférieur ("TAGI") gas reservoir as announced by the Company on 9 August 2022. The TAGI is the proven reservoir of the TE-5 Horst gas accumulation within the Tendrara Production Concession currently under development. On entry to the first extension period the company is required to relinquish a portion of the permitted acreage. The currently proposed retained area includes all company recognised prospectivity. The company confirms that the commitment to drill two exploration wells with Triassic objectives during the Grand Tendrara initial period were historically fulfilled, and approved by ONHYM as such, by the drilling of TE-9 and TE-10. The Company has therefore been able to make application for the first extension period of the Grand Tendrara exploration permits. Both the Sidi Moktar and Grand Tendrara permits are subject to an active and constructive dialogue with ONHYM and the Ministry of Energy Transition and Sustainable Development. Further announcements will be made, as appropriate, in due course. Announcement • Aug 09
Sound Energy Provides an Update on the Phase 2 Development Financing of its Tendrara Production Concession Sound Energy to provide an update on the Phase 2 development financing of its Tendrara Production Concession, an update on the Company's exploration and appraisal activities and the launch of a farm-out process for the Tendrara Production Concession and the surrounding Greater Tendrara and Anoual exploration permits. Phase 2 Development Financing and Farm-Out Update: As announced on 23 June 2022, the Company mandated Attijariwafa bank, a Moroccan multinational bank and one of the leading banks in Morocco, to arrange a long-term project senior debt facility of up to USD 250 million for the partial financing (the "Phase 2 Senior Debt") of the currently estimated approximately USD 330 million Phase 2 development costs (gross, 100%) of the Tendrara Production Concession. Progress continues to be made with a number of external banking advisers and data review and, as previously announced, the parties are seeking to negotiate binding terms for the Phase 2 Senior Debt within 120 days under the 8 month exclusivity. In addition, the Company is continuing to mature industry and alternative financing solutions for the remaining Phase 2 development costs of approximately US$60 million net to Sound's 75% working interest in the Tendrara Production Concession. A number of industry counterparties capable of providing the required financing have expressed interest in pursuing discussions in respect of both of the Company's Tendrara Production Concession and surrounding Greater Tendrara and Anoual exploration permits. As a result, the Company announced that it has initiated a formal farm-out process for the Tendrara Production Concession and the surrounding Greater Tendrara and Anoual exploration permits and has appointed Gneiss Energy Limited, a leading energy corporate finance advisory firm, to manage the farm-out process. The objective of the area-wide farm-out is to seek a co-investing partner in each licence to both fund the expected balance of Phase 2 development costs and also to progress an exploration and appraisal drilling programme in the Greater Tendrara and Anoual exploration permit areas. Following the Company's announcement on 14 April 2022, the Company has continued to re-evaluate the extensive exploration portfolio within the Greater Tendrara and Anoual exploration permits surrounding the Tendrara Production Concession. The Company had high graded several potential near term subsalt drilling opportunities within the Trias Argilo-Gréseux Inférieur ("TAGI") gas reservoir, the proven reservoir of the TE-5 Horst gas accumulation within the Tendrara Production Concession. These drilling opportunities include the exploration prospect 'M5' located on the Anoual exploration permit, together with the SBK-1 and TE-4 structures previously drilled on the Greater Tendrara exploration permit. Both SBK-1 and TE-4, drilled in 2000 and 2006 respectively, encountered gas shows in the TAGI reservoir. SBK-1 flowed gas to surface during testing in 2000 at a peak rate of 4.41 mmscf/d post acidification, but was not tested with mechanical stimulation. TE-4 was tested in 2006 but did not flow gas to the surface. Mechanical stimulation has proven to be a key technology to commercially unlock the potential of the TAGI gas reservoir in the TE-5 Horst gas accumulation and, accordingly, the Company believes this offers potential to unlock commerciality elsewhere in the basin. Commercial discoveries in the Greater Tendrara and Anoual exploration permits would have the potential to be commercialised through the proposed development infrastructure centred on the TE-5 Horst, with sufficient capacity in the planned Tendrara Export Pipeline or as standalone projects. The Company cautions that notwithstanding its internal estimates for the exploration potential of the three planned exploration drilling targets, further exploration activity, including drilling, will be required to substantiate the estimated exploration potential andthat general exploration in the oil and gas industry contains an element of risk and there can be no guarantee that the Company's current estimates of volumes of gas originally in place will be substantiated by exploration drilling or that any volumes encountered would actually be available for extraction. Announcement • Jun 09
Sound Energy plc has completed a Follow-on Equity Offering in the amount of £4 million. Sound Energy plc has completed a Follow-on Equity Offering in the amount of £4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 200,000,000
Price\Range: £0.02
Transaction Features: Subsequent Direct Listing Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Director Marco Fumagalli is the most experienced director on the board, commencing their role in 2014. Senior Independent Non-Executive Director Christian Eduard Wilhelm Bukovics was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Apr 20
Sound Energy plc, Annual General Meeting, Jun 28, 2022 Sound Energy plc, Annual General Meeting, Jun 28, 2022, at 11:00 Coordinated Universal Time. Location: 20 St Dunstan's Hill, London, EC3R 8HL London United Kingdom Executive Departure • Dec 02
Non-Executive Senior Independent Director Richard Liddell has left the company On the 30th of November, Richard Liddell's tenure as Non-Executive Senior Independent Director ended. As of September 2021, Richard still personally held only 100.00k shares (€1.3k worth at the time). Richard is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.08 years. Announcement • Aug 31
Sound Energy plc (AIM:SOU) completed the acquisition of Schlumberger Silk Route Services Limited from Schlumberger Holdings II Limited. Sound Energy plc (AIM:SOU) entered into a sale and purchase agreement to acquire Schlumberger Silk Route Services Limited from Schlumberger Holdings II Limited for $1 on June 14, 2021. The consideration will be paid in cash. As part of the transaction, Sound Energy may make future payments to Schlumberger Holdings pursuant to a Profit Sharing Deed. As of December 31, 2020, Schlumberger Silk Route Services had unaudited net assets of $87.1 million and recorded a loss for the year before tax of $0.2 million. The acquisition is conditional upon Schlumberger Holdings taking the necessary steps (including settling all intercompany balances) on or before 5 September 2021 to sell the entire issued share capital of Schlumberger Silk Route Services to Sound Energy on a cash-free, debt-free basis at completion. The transaction is accretive for Sound Energy. Ben Jeynes and Russell Cook of Cenkos Securities acted as financial advisor to Sound Energy in the transaction.
Sound Energy plc (AIM:SOU) completed the acquisition of Schlumberger Silk Route Services Limited from Schlumberger Holdings II Limited on August 31, 2021. Announcement • Jun 15
Sound Energy plc (AIM:SOU) entered into a sale and purchase agreement to acquire Schlumberger Silk Route Services Limited from Schlumberger Holdings II Limited for $1. Sound Energy plc (AIM:SOU) entered into a sale and purchase agreement to acquire Schlumberger Silk Route Services Limited from Schlumberger Holdings II Limited for $1 on June 14, 2021. The consideration will be paid in cash. As part of the transaction, Sound Energy may make future payments to Schlumberger Holdings pursuant to a Profit Sharing Deed. As of December 31, 2020, Schlumberger Silk Route Services had unaudited net assets of $87.1 million and recorded a loss for the year before tax of $0.2 million. The acquisition is conditional upon Schlumberger Holdings taking the necessary steps (including settling all intercompany balances) on or before 5 September 2021 to sell the entire issued share capital of Schlumberger Silk Route Services to Sound Energy on a cash-free, debt-free basis at completion. Ben Jeynes and Russell Cook of Cenkos Securities acted as financial advisor to Sound Energy in the transaction. Announcement • Mar 21
Sound Energy plc to Report Fiscal Year 2020 Results on Apr 19, 2021 Sound Energy plc announced that they will report fiscal year 2020 results on Apr 19, 2021 Announcement • Jul 31
Sound Energy plc has completed a Follow-on Equity Offering in the amount of £4.5 million. Sound Energy plc has completed a Follow-on Equity Offering in the amount of £4.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 211,764,705
Price\Range: £0.02125
Transaction Features: Subsequent Direct Listing 
