Sound Energy, the transition energy company, announces that further to the announcement of 14 June 2024 regarding the entry into a conditional binding Sale and Purchase Agreement, (SPA) for the partial divestment by Sound Energy (AIM: SOU), of its Moroccan assets by way of the disposal by the Company of the entire issued share capital of the Company’s wholly-owned subsidiary Sound Energy Morocco East Limited (SEME) to Managem SA.
The Company is pleased to confirm the receipt of formal approval from the Moroccan Minister of Energy Transition and Sustainable Development to SEME continuing as the Operator of the record of the Tendrara Exploitation Concession, and the Anoual and Grand Tendrara Exploration Permits, following the completion of the Transaction.
As announced by the Company on 27 September 2024, the Transaction remains conditional upon the satisfaction or waiver by the parties of the remaining conditions precedent to the SPA and further announcements will be made as appropriate in due course.
