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Sound Energy PLC - Moroccan-focused upstream energy company - Enters bridge financing facility agreement for up to £1.5 million, available for three months from September 1. Explains that it has agreed the facility with a ‘high-net-worth individual’ trading as 2i Partners, introduced by Lyndisfarne Partners Ltd. Sound Energy has not yet drawn down any funds under the facility, which if required, will give it access to additional working capital resources. Any amounts drawn under the facility will attract an interest rate of 15% per quarter. Sound Energy will pay the lender £50,000 in the event that no draw down is made prior to expiry of the availability period. Current stock price: 0.89 pence 12-month change: down 18% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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