Sound Energy to raise $15m from new share issue

Share index price drops dramatically during lunch.
Share index price drops dramatically during lunch.

Morocco-focused Sound Energy will raise $15 million from the placing of 30.8 million new shares.

Sound will apply for the shares to be admitted to trading on the AIM and admission is expected to take place on or around July 6, 2018.

The company said the funds would strengthen its cash position as it initiates its high impact three well exploration programme.

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