Conversion of Loan Notes and Issue of Warrants

Sunda Energy PLC

15 May 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN.

15 May 2026

Sunda Energy Plc

("Sunda" or "Sunda Energy" or the "Company")

Conversion of Loan Notes and Issue of Warrants

Sunda Energy Plc (AIM: SNDA), the AIM-quoted oil & gas company focused on the Asia-Pacific region, announces that it has received notice from Alumni Capital (the "Investor"), who participated in the CLN Subscription as announced on 8 April 2026, to convert £250,000 of the outstanding balance of its Convertible Loan Notes plus a £25,000 Finance Charge (the "Conversion Balance") into ordinary shares of 0.1 pence each in the Company ("Ordinary Shares").

The conversion price of the Conversion Balance is 1.7827 pence (the "Conversion Price"), which, in accordance with the terms of the Convertible Loan Notes, is a 15% discount to the lowest daily volume weighted average price on any of the 10 Trading Days prior to the issue of the conversion notice (being 2.0973 pence).

Accordingly, the Company will issue 15,426,039 new Ordinary Shares (the "New Ordinary Shares") to the Investor (the "Conversion").

In addition, the Company has granted 8,899,676 CLN Warrants to the Investor pursuant to the Conversion. One CLN Warrant will entitle the Investor to subscribe for one Ordinary Share, at a 30% premium to the Conversion Price, being 2.3175 pence.

Details of the terms and conditions of the Convertible Loan Notes are outlined in the Company's announcement released on 8 April 2026 and in the Company's circular posted to shareholders on 9 April 2026.

Admission to AIM

Application will be made shortly to London Stock Exchange plc for the 15,426,039 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM at 8.00 a.m. on or around 21 May 2026.

Following Admission, the Company's issued share capital will comprise 400,941,457 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. 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 to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Capitalised terms in this announcement have the meaning ascribed to them in the announcement released by the Company on 8 April 2026.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

For further information please contact:

Sunda Energy Plc Andy Butler, Chief Executive Rob Collins, Chief Financial Officer	Tel: [phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) Nick Athanas, Nick Harriss, Ashur Joseph (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking)	Tel: [phone]
Hannam & Partners Advisory Limited (Advisor and Joint Broker) Neil Passmore (Corporate Finance) Leif Powis (Sales)	Tel: [phone]
Celicourt Communications (Financial PR and IR) Mark Antelme, Philip Dennis, Charles Denley-Myerson	Tel: [phone] [e-mail]

 

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