Sound Energy, the transition energy company,  has announced that subsequent to the Company's announcement of 14 June 2024 regarding the entry into a conditional binding Sale and Purchase agreement for the partial divestment by the Company 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 to Managem SA, Sound Energy has received confirmation of the approval of Managem's Board of Directors to the Transaction, satisfying one of the conditions precedent to the SPA.   

The Transaction remains conditional upon the remaining Conditions Precedent to the SPA, as disclosed by the Company in the announcement of 14 June 2024, being satisfied or waived and further announcements will be made, as appropriate, in due course.

 Commenting, Graham Lyon (Executive Chairman of Sound Energy) said: "We are very pleased to have received Managem's formal board approval for the Transaction and we are working to effect completion of all remaining conditions precedent to the SPA in the near term. Meanwhile a transition plan is being executed with the Managem team to ensure a smooth hand over."