Sunda Energy plc has issued 43,824,701 new ordinary shares after converting £500,000 of the outstanding convertible loan notes, plus a £50,000 finance charge, following notice from Alumni Capital Ltd.
TVRs
The conversion into ordinary shares of 0.1 pence each is at a price of 1.255 pence.
Sunda has also granted to Alumni 25,283,481 CLN warrants, each exercisable for one ordinary share at a 30% premium of 1.6315 pence.
The CLN relate to the overall £6.7 million raised in April 2026 for the company to buy production and exploration permits, onshore Taranaki Basin on the west coast of New Zealand’s North Island.
Following admission, Sunda’s issued share capital will comprise 444,766,158 ordinary shares.
The company does not hold any ordinary shares in treasury.
Sunda also has a 60% working interest the Chuditch production sharing contract offshore Timor-Leste, which faces termination because the company failed to drill an appraisal well on schedule.