Proactive Investors - Run By Investors For Investors

Sound Energy prepares to redistribute Saffron/Coro stake to shareholders

Sound shareholders will receive a total of 185.9mln Saffron shares, in proportion to their holdings in Sound
oil and gas operations
The shares will be sent at 6pm on the record date, April 3

Sound Energy PLC (LON:SOU) has updated investors on the process that will deliver shareholders stakes in Saffron Energy, as part of the divestment of the group’s Italian assets.

The company is selling the Italian assets to Saffron, which is being relaunched as Coro Energy, in a share based deal though it won’t retain any of the stake. Instead, the shares will be redistributed to shareholders. To facilitate the transaction, Sound confirmed that it has now undertaken a reduction of capital and it will allocate a total of 185.9mln Saffron Energy shares.

At 6:00pm on the record date, April 3, Sound shareholders will receive the Saffron shares, in proportion to their holdings in Sound.

View full SOU profile View Profile

Sound Energy PLC Timeline

Related Articles

oil well in Alberta
November 15 2018
The company has cash-generating oil and gas operations with exploration upside.
New prospect areas near the Dorado-1 oil discovery
October 15 2018
Three additional prospects are estimated to contain significant quantities of oil, gas and condensate.
July 25 2018
Anfield revealed that its prospective energy partners have shown an increasing interest in its vanadium assets

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use