Sound Energy (GB:SOU) has released an update.
Sound Energy has announced the issuance of 50 million new Ordinary Shares at a conversion price of 1 pence each, as part of a Convertible Loan Note agreement previously disclosed on 13 June 2023. This action reduces the accrued interest on the Convertible Loan Notes and is expected to lead to an increased total share capital for the company. The new shares are anticipated to be tradeable on the AIM market following their admission scheduled for around 5 July 2024.
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