Successful Completion of Bond Restructuring
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Sound Energy, the AIM-listed transition energy company, is pleased to announce that at the meeting of the holders (the "Noteholders") of the Company's Luxembourg listed EUR 28.8m 5.0% senior secured notes (the "Notes") held earlier today to consider the proposal for the restructuring of the Notes (the "Proposal"), the Proposal was duly approved by Noteholders by the requisite majority.
At the Noteholder meeting, quorum was reached with voting instructions representing EUR 15.7M of the Notes lodged by Noteholders, with 96.18% of votes cast in favour of the Proposal.
As a result of the Noteholders' approval of the Proposal, the prior obligation for the Company to commence amortisation of the Notes at a rate of 5.0% of the EUR 25.3M Notes principal outstanding every six months from 21 December 2023 until maturity in December 2027 has now been removed.
Notice of the result of the Noteholder meeting will shortly be sent to Noteholders and will be available on the Company's website at www.soundenergyplc.com thereafter.
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