Conversion of Loan Notes and Issue of Warrants
Sunda Energy Plc has announced the conversion of £500,000 of outstanding loan notes plus a £50,000 finance charge into 43,824,701 new ordinary shares at a price of 1.255 pence per share, representing a 15% discount to the recent average trading price. Additionally, the company has issued 25,283,481 warrants to the investor, exercisable at 1.6315 pence per share. These new shares are expected to be admitted to AIM on June 26, 2026, bringing the total issued share capital to 444,766,158 ordinary shares.
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Sunda Energy Plc (AIM: SNDA), the AIM-quoted oil & gas company focused on the Asia-Pacific region, announces that it has received notice from Alumni Capital Limited (the "Investor"), who participated in the CLN Subscription as announced on 8 April 2026, to convert £500,000 of the outstanding drawn down principal amount of its Convertible Loan Notes plus a £50,000 Finance Charge (the "Conversion Balance") into ordinary shares of 0.1 pence each in the Company ("Ordinary Shares").
The conversion price of the Conversion Balance is 1.255 pence (the "Conversion Price"), which, in accordance with the terms of the Convertible Loan Notes, is a 15% discount to the lowest daily volume weighted average price on any of the 10 Trading Days prior to the issue of the conversion notice.
Accordingly, the Company will issue 43,824,701 new Ordinary Shares (the "New Ordinary Shares") to the Investor (the "Conversion").
In addition, the Company has granted 25,283,481 CLN Warrants to the Investor pursuant to the Conversion. One CLN Warrant will entitle the Investor to subscribe for one Ordinary Share, at a 30% premium to the Conversion Price, being 1.6315 pence.
Details of the terms and conditions of the Convertible Loan Notes are outlined in the Company's announcement released on 8 April 2026 and in the Company's circular posted to shareholders on 9 April 2026.
Admission to AIM
Application has been made to London Stock Exchange plc for the 43,824,701 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM at 8.00 a.m. on or around 26 June 2026.
Following Admission, the Company's issued share capital will comprise 444,766,158 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Capitalised terms in this announcement have the meaning ascribed to them in the announcement released by the Company on 8 April 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.