Result of General Meeting
Sunda Energy Plc announced that all resolutions were passed at its General Meeting, approving a capital reorganisation where every 100 existing ordinary shares will consolidate into one, then subdivide into one new ordinary share and one deferred share, effective April 30, 2026. Following this, 26,890,755 Conditional Subscription Shares and 13,606,029 Retail Offer Shares are expected to be admitted to AIM on April 30, 2026. The company is also authorised to grant 28,571,426 Subscription Warrants and 6,802,977 Retail Offer Warrants, including to directors. Post-admission, the total number of new ordinary shares in issue will be 385,515,418, representing the total voting rights. Directors participating in the conditional subscription will hold varying percentages of the enlarged share capital, with the CEO, Dr. Andrew Butler, holding 9.47% after subscribing for 25,210,084 shares and receiving 12,605,042 warrants.
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Fundraising
Directors' shareholdings
Total Voting Rights
Sunda Energy Plc (AIM: SNDA), the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, announces that at the Company's General Meeting ("GM") held earlier today all Resolutions were duly passed.
Unless otherwise defined herein, defined terms used in this announcement have the same meaning as those set out in the Company's announcement released at 07:01 a.m. on 8 April 2026.
Capital Reorganisation
As a result of the Resolutions having been passed, shareholders have now approved the Capital Reorganisation. At the Capital Reorganisation Record Date of 6.00 p.m. 29 April 2026, every 100 Existing Ordinary Shares will be consolidated into one Consolidated Share. Subsequently, each Consolidated Share will be subdivided into one New Ordinary Share and one Deferred Share. The New Ordinary Shares created upon implementation of the Capital Reorganisation will have the same rights as Existing Ordinary Shares including voting, dividend and other rights. The ISIN for the New Ordinary Shares is GB00BSHSGY88 and the SEDOL number is BSHSGY8 which will come into effect at 8.00 a.m. on 30 April 2026.
Fundraising
Following the passing of the Resolutions, 26,890,755 Conditional Subscription Shares and 13,606,029 Retail Offer Shares, for which application has been made, are expected to be admitted to trading on AIM at 8.00 a.m. on 30 April 2026 ("Admission").
The Conditional Fundraising Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the New Ordinary Shares of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of such Conditional Fundraising Shares.
The Company is also now authorised to grant 28,571,426 Subscription Warrants and 6,802,977 Retail Offer Warrants including the issue of Subscription Warrants to certain directors of the Company as set out below.
The passing of the Resolutions also authorises the issue of the Convertible Loan Notes and the future grant of the CLN Warrants, details of which were set out in the announcement made by the Company at 07:01 a.m. on 8 April 2026.
Result of General Meeting
The Resolutions put to the GM were voted on by way of a poll and the results are as follows:
| Resolution | Votes for | % | Votes against | % | Votes withheld |
|---|---|---|---|---|---|
| Resolution 1 (Special) To approve the capital reorganisation of the Company and to amend the Company's articles of association | 8,928,519,160 | 98.1% | 171,318,812 | 1.9% | 632,379,705 |
| Resolution 2 (Ordinary) To approve the acquisition of Matahio Energy NZ Limited and to authorise the Directors to conclude such acquisition | 9,091,265,589 | 99.8% | 19,112,224 | 0.2% | 621,839,864 |
| Resolution 3 (Ordinary) To authorise the Directors to allot shares and grant warrants and rights to subscribe for, or to convert any security into, shares in the Company | 8,975,542,141 | 98.7% | 119,411,227 | 1.3% | 637,264,309 |
| Resolution 4 (Special) To disapply pre-emption rights | 8,882,571,750 | 97.9% | 193,754,634 | 2.1% | 655,891,293 |
Admission & Total Voting Rights
Following Admission, the total number of New Ordinary Shares in the capital of the Company in issue will be 385,515,418 with each New Ordinary Share carrying the right to one vote. There are no New Ordinary Shares held in treasury and therefore the total number of voting rights in the Company will be 385,515,418. The above figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure, Guidance and Transparency Rules.
Directors' shareholdings
Following Admission, the holdings of the Directors who participated in the Conditional Subscription will be as follows:
| Director | Number of New Ordinary Shares subscribed for | Number of Subscription Warrants granted | Total number of New Ordinary Shares following General Admission | Percentage of Enlarged Share Capital following General Admission |
| Dr Andrew Butler (CEO) | 25,210,084 | 12,605,042 | 36,516,098 | 9.47% |
| Gerry Aherne (Chairman) | 1,344,537 | 672,268 | 5,144,537 | 1.33% |
| Keith Bush (Non-Executive Director) | 168,067 | 84,033 | 568,067 | 0.15% |
| Dr John Chessher (Non-Executive Director) | 168,067 | 84,033 | 665,802 | 0.17% |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||
| a) | Name | 1. Dr Andrew Butler 2. Gerry Aherne 3. Keith Bush 4. Dr John Chessher | ||
| 2. | Reason for the Notification | |||
| a) | Position/status | 1. Chief Executive Officer 2. Non-Executive Chairman 3. Non-Executive Director 4. Non-Executive Director | ||
| b) | Initial notification/Amendment | Initial Notification | ||
| a) | Name | Sunda Energy Plc | ||
| b) | LEI | 213800MBSOS9UZ5SW712 | ||
| a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.1 pence each | ||
| Identification code | ISIN: GB00BSHSGY88 | |||
| b) | Nature of the transaction | Subscription for Ordinary Shares | ||
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1. £0.02975 2. £0.02975 3. £0.02975 4. £0.02975 1. 25,210,084 2. 1,344,537 3. 168,067 4. 168,067 | ||
| e) | Date of the transaction | 8 April 2026 to be completed on 30 April 2026 | ||
| f) | Place of the transaction | Outside a trading venue | ||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||
| a) | Name | 1. Dr Andrew Butler 2. Gerry Aherne 3. Keith Bush 4. Dr John Chessher | ||
| 2. | Reason for the Notification | |||
| a) | Position/status | 1. Chief Executive Officer 2. Non-Executive Chairman 3. Non-Executive Director 4. Non-Executive Director | ||
| b) | Initial notification/Amendment | Initial Notification | ||
| a) | Name | Sunda Energy Plc | ||
| b) | LEI | 213800MBSOS9UZ5SW712 | ||
| a) | Description of the Financial instrument, type of instrument | Ordinary Shares of 0.1 pence each | ||
| Identification code | ISIN: GB00BSHSGY88 | |||
| b) | Nature of the transaction | Grant of Warrants over Ordinary Shares | ||
| c) | Price(s) and volume(s) | Price(s) Volume(s) 1. £0.044625 2. £0.044625 3. £0.044625 4. £0.044625 1. 12,605,042 2. 672,268 3. 84,033 4. 84,033 | ||
| e) | Date of the transaction | 8 April 2026 to be completed on 30 April 2026 | ||
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.