Sound Energy plc (AIM:SOU) signed a non-binding heads of agreement to acquire Additional 20% in Tendrara, 75% in Meridja and 75% in Area close to Tendrara from Oil and Gas Investment Fund for approximately £190 million on January 19, 2017. The consideration for the acquisition will be 272 million new ordinary shares in Sound Energy. As part of the transaction, Oil and Gas Investment will agree to a 12 month lock-in in relation to the consideration shares, a 36 month restriction on exceeding 29.9% ownership of Sound Energy and will enter into a relationship agreement with Sound Energy. OGIF will be granted the right to appoint one Non-Executive Director, expected to be a senior OGIF executive, to the Board of Sound Energy for so long as OGIF continues to hold more than 10% of Sound Energy's issued ordinary share capital. The proposed acquisition will be subject to contract, regulatory approvals from Moroccan Energy and Finance ministries and Morocco's Office National des Hydrocarbures et des Mines and Sound Energy shareholder approvals. As of February 20, 2017, Sound Energy plc (AIM:SOU) entered into binding agreement to acquire additional 20% in Tendrara, 75% in Meridja and 75% in Area close to Tendrara from Oil and Gas Investment Fund for approximately £190 million. As of March 15, 2017, Sound Energy shareholders approved the transaction. The issue of the consideration shares was approved by Sound Energy shareholders on March 15, 2017 and OGIF will be locked in for a period of 12 months from issue. The deal is subject to approval from Moroccan Energy and Finance ministries. As on July 27, 2017, the Matarka Licence approval has been granted. Azhic Basirov, David Jones and Ben Jeynes of Smith & Williamson acted as the nominated advisors for Sound Energy. Sarah Wharry and David Porter of Cantor Fitzgerald Europe acted as the broker for Sound Energy. Patrick d'Ancona, Chris McMahon and Alexandra Roper of Vigo Communications acted as the PR advisor for Sound Energy. Matthew Coakes, Martin Copeland and Laura White from RBC Capital Markets acted as brokers to Sound Energy.