Southern Energy Corp. BLOCK LISTING APPLICATION TO AIM (5877K)
06 Mayo 2022 - 1:01AM
UK Regulatory
TIDMSOUC
RNS Number : 5877K
Southern Energy Corp.
06 May 2022
SOUTHERN ENERGY CORP.
ANNOUNCES BLOCK LISTING APPLICATION TO AIM
Calgary, Alberta - May 6, 2022 - Southern Energy Corp.
("Southern Energy" or the "Company") (SOU: TSXV) (AIM:SOUC), a
U.S.-focused, growth-oriented oil and natural gas producer,
announces that application has been made to AIM for a block
admission of 15,624,232 new common shares in the Company ("Common
Shares"). This will be used to facilitate the admission of Common
Shares to trading following future exercises of outstanding
warrants issued in 2021 ("2021 Warrants") and future conversions of
outstanding 8% convertible unsecured subordinated debentures issued
on June 14, 2019 and January 15, 2021 (the "Convertible
Debentures"). The number of Common Shares admitted for these
purposes is as follows:
-- up to 7,812,116 Common Shares in connection with the 2021 Warrants; and
-- up to 7,812,116 Common Shares in connection with the Convertible Debentures.
The Common Shares cited above will be issued from time to time
pursuant to exercises of the 2021 Warrants and conversions of the
outstanding Convertible Debentures.
New Common Shares issued under the block admission will rank
pari passu in all respects with existing Common Shares, and it is
expected that the block admission will become effective from 8.00
a.m. on 10 May 2022. There is no immediate change to the Company's
issued share capital as a result of this block admission.
The Company will make six-monthly announcements of the
utilisation of the block admission, in line with its obligations
under AIM Rule 29.
At the time of this announcement, Southern Energy has 78,513,733
Common Shares in issue. This figure may be used by shareholders in
the Company as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change in their interest in, the share capital of the
Company.
For further information, please contact :
Southern Energy Corp.
Ian Atkinson (President and CEO) +1 587 287 5401
Calvin Yau (VP Finance and CFO) +1 587 287 5402
+44 (0) 20 7409
Strand Hanson Limited - Nominated & Financial 3494
Adviser
James Spinney / James Bellman
+44 (0) 20 7907
Hannam & Partners - Joint Broker 8500
Sam Merlin / Ernest Bell
Canaccord Genuity - Joint Broker +44 (0) 20 7523
Henry Fitzgerald-O'Connor / James Asensio 8000
Camarco +44 (0) 20 3757
James Crothers, Hugo Liddy, Billy Clegg 4980
About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and
production company. Southern has a primary focus on acquiring and
developing conventional natural gas and light oil resources in the
southeast Gulf States of Mississippi, Louisiana, and East Texas.
Our management team has a long and successful history working
together and have created significant shareholder value through
accretive acquisitions, optimization of existing oil and natural
gas fields and the utilization of re-development strategies
utilizing horizontal drilling and multi-staged fracture completion
techniques.
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END
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