SOUND ENERGY PLC

Director's Dealing • Oct 11, 2016

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RNS Number : 1672M

Sound Energy PLC

11 October 2016

11 October 2016

Sound Energy plc

("Sound Energy" or the "Company")

Director/PDMR Shareholding

Sound Energy, the European and African focused upstream gas company announces that,  following an approach to the Company by a large UK financial institution wishing to secure an equity position, it has been notified that Greenberry S.A. ("Greenberry") has sold, to the above pre-identified institution, 10,000,000 of the Company's warrants to subscribe for new ordinary shares in the Company expiring 21 June 2021 (the "Warrants").  This transaction occurred on 10 October 2016 at a price of 50 pence per Warrant.  Should the Warrants be exercised, the acquisition price of ordinary shares for the new Warrant holder (inclusive of the 30 pence per share exercise price) would therefore be 80 pence per new ordinary share, representing a 5.9 per cent. discount to the closing mid market price per Sound Energy ordinary share of 85.0 pence on 10 October 2016.

The Company looks forward to the introduction of further institutions to the shareholder register.

Marco Fumagalli, a director of the Company, is Managing Partner of, and a 25% shareholder in, Continental Investment Partners SA ("Continental").  Greenberry is an affiliate of Continental by virtue of its common ownership.

The notification below, made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Greenberry S.A.
2	Reason for the notification
a)	Position/status	Notification concens a PCA, being a legal person the managerial responsibilities of which are discharged by Marco Fumagalli, a PDMR (Non-Executive Director of Sound Energy plc).
b)	Initial notification/Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Sound Energy plc
b)	LEI	-
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	Warrants to subscribe for new ordinary shares of £0.01 each at an exercise price of 30 pence per share
	Identification code	GB00B90XFF12
b)	Nature of the transaction	Disposal of warrants
c)	Price(s) and volumes(s)	Price(s)	Volume(s)
£0.50	10,000,000
d)	Aggregated information	N/A (single transaction)
	Aggregated volume
	Price
e)	Date of the transaction	10 October 2016
f)	Place of the transaction	Outside of a trading venue

This announcement is inside information for the purposes of article 7 of Regulation 596/2014.

For further information please contact:

Vigo Communications - PR Adviser Patrick d'Ancona Chris McMahon Alexandra Roper	Tel: +44 (0)20 7830 9700
Sound Energy James Parsons, Chief Executive Officer	j.parsons@soundenergyplc.com
Smith & Williamson - Nominated Adviser Azhic Basirov David Jones Ben Jeynes	Tel: +44 (0)20 7131 4000
Cantor Fitzgerald Europe - Broker Sarah Wharry David Porter	Tel: +44 (0)20 7894 8896

This information is provided by RNS

The company news service from the London Stock Exchange

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