Sound Energy shares fall 33% as company exits Morocco

Sound Energy PLC (AIM:SOU, OTC:SNEGF), the transition energy company, has agreed to sell its remaining 20% interest in the Tendrara gas development in Morocco to Managem, the Casablanca-listed mining group, in a deal that will leave it with $11 million of cash. Shares in Sound Energy fell 33% to 3.13p following the announcement.