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Sound Energy Plc - Consent Solicitation - Launch

Sound Energy Plc announces Consent Solicitation - XS1434582885

03 NOVEMBER 2023


Full announcement including disclaimers and offer restrictions available via Source: Sound Energy Plc


"Invitation by

Sound Energy plc

(incorporated under the laws of England and Wales)

(the "Issuer")

to eligible holders of its outstanding

EUR 28,800,000 5.0 per cent. Senior Secured Notes due 2027 (XS1434582885) (the "Notes")


to consider and, if thought fit, approve the Proposal (as defined herein), being the proposed deletion of Condition 5.5 (Amortisation payments) in its entirety and consequential amendments to Condition 5.1 (Interest Rate and Interest Payment Dates), by way of extraordinary resolution of the holders of the Notes (the "Extraordinary Resolution"), all as further described in this Consent Solicitation Memorandum (such invitation in respect of the Notes, the "Consent Solicitation").


...


"Rationale for Consent Solicitation


The purpose of the Consent Solicitation is to invite eligible Noteholders to consider and, if thought fit, approve the proposed deletion of Condition 5.5 (Amortisation payments) in its entirety and consequential amendments to Condition 5.1 (Interest Rate and Interest Payment Dates), and more specifically, to provide that the Noteholders direct the Trustee to enter into the Supplemental Trust Deed in order to effect the proposed deletion of Condition 5.5 (Amortisation payments) in its entirety and consequential amendments to Condition 5.1 (Interest Rate and Interest Payment Dates) (the "Proposal"). If this Proposal is approved by the Noteholders, the deletion of Condition 5.5 (Amortisation payments) in its entirety and consequential amendments to Condition 5.1 (Interest Rate and Interest Payment Dates) will be effected on the Implementation Date, being the date on which the Issuer will enter into the Supplemental Trust Deed."


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