Sunda Energy PLC (AIM: SNDA) shares rose 39% after the company announced that chief executive Dr Andy Butler has agreed to acquire the outstanding £400,000 unsecured convertible loan notes issued as part of the financing for its proposed acquisition of Matahio Energy NZ Limited.
The convertible loan notes were originally issued under the financing arrangements announced in April 2026 and will retain their existing terms following the transfer from Alumni Capital Limited to Dr Butler.
The company said Dr Butler has informed the board that he does not currently intend to convert the loan notes into shares.
Sunda added that the proposed acquisition of Matahio Energy remains conditional, including obtaining approval from the New Zealand Government for the change of control.
The company continues to work towards completing the transaction in September 2026.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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1. |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
Dr Andrew Butler |
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2. |
Reason for the Notification |
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a) |
Position/status |
Chief Executive Officer |
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b) |
Initial notification/Amendment |
Initial Notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Sunda Energy Plc |
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b) |
LEI |
213800MBSOS9UZ5SW712 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the Financial instrument, type of instrument |
Loan notes convertible into ordinary Shares of 0.1 pence each |
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Identification code |
ISIN: GB00BSHSGY88 |
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b) |
Nature of the transaction |
Purchase of Convertible Loan Notes |
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c) |
Price(s) and volume(s) |
Price: £432,000 Volume (principal value of CLNs): £400,000 of Convertible Loan Notes |
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d) |
Aggregated information: – Aggregated volume – Price |
N/A |
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e) |
Date of the transaction |
28 July 2026 |
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f) |
Place of the transaction |
Outside a trading venue |
For further information, please contact:
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Sunda Energy Plc Andy Butler, Chief Executive Rob Collins, Chief Financial Officer
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Tel: +44 (0) 20 7770 6424 |
