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Board Changes and Appointment of CEO

In brief · summary, not quotable

Sound Energy PLC announced the appointment of Majid Shafiq as Chief Executive Officer and to the board. Graham Lyon, the current Executive Chairman, will transition to non-executive Chairman over the next six months. Prior to this appointment, Mr. Shafiq was CEO of i3 Energy plc for six years, during which time the company grew to produce 20,000 barrels of oil equivalent per day, distributed over £45 million in dividends, and was sold for £174 million. Mr. Shafiq currently holds directorships at The Shahida Foundation.

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Sound Energy PLC, (AIM:SOU) the AIM listed transition energy company, is pleased to announce the appointment of Mr Majid Shafiq as Chief Executive officer to the Company. Majid Shafiq has also been appointed to the board of Sound Energy PLC.

Graham Lyon, the Company's Executive Chairman, will transition to non-executive Chairman over the course of the next six months.

Majid Shafiq is a seasoned professional with over thirty-five years of experience in the energy sector, combining extensive international industry and capital markets expertise. He began his career with Mobil North Sea Limited, spending thirteen years in a variety of petroleum engineering and commercial roles. He subsequently worked for seventeen years in London investment banking with specialist energy-focused firms, including Tristone Capital and FirstEnergy Capital, where he advised private and public small to mid-cap energy companies on mergers and acquisitions and equity capital markets transactions.

In 2018, Mr Shafiq was appointed Chief Executive Officer of AIM/TSX-listed i3 Energy plc, a position he held for six years until the company's sale at the end of 2024. During his tenure, the company grew from a pre-revenue micro-cap into a business producing 20,000 barrels of oil equivalent per day, distributed more than £45 million in dividends, and was sold for £174 million.

This combination of technical, financial, and leadership experience provides him with a comprehensive understanding of the energy sector and a demonstrated ability to execute growth strategies, raise capital, and deliver transactions that create shareholder value. Mr Shafiq holds an MEng in Petroleum Engineering and an MBA.

Regulatory disclosures (in accordance with Rule 17 and Schedule two paragraph (g) of the AIM Rules) are as set out below:

Mr Majid Shafiq (aged 61 years old) holds or has held the following directorships or partnerships in the past five years:

Current Directorships/PartnershipsPast Directorships/Partnerships
The Shahida FoundationI3 Energy plc

i3 Energy North Sea Limited

i3 Energy Canada Limited

20 Campdale Road Management Company Limited

Mr Shafiq holds no shares in Sound Energy at this time.

No further disclosures under Rule 17/Schedule 2(g).

Graham Lyon, Executive Chair, commented:

"We are pleased to welcome Majid to Sound Energy. Majid has a proven track record in growing businesses and creating substantial shareholder value. I look forward to supporting and passing the baton to Majid to take the Company forward to the next stage of its exciting path, delivering revenue, widening and growing the Company's portfolio with accretive opportunities."

Sound Energy plc Graham Lyon (Executive Chairman)chairman@soundenergyplc.com
Flagstaff Strategic and Investor Communications Tim Thompson, Mark Edwards, Alison Allfreysound@flagstaffcomms.com +44 (0)207 129 1474
Zeus - Nominated Adviser and Broker James Joyce, Gabriella Zwarts (Investment Banking) Simon Johnson (Corporate Broking)+44 (0)20 3829 5000

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.

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