EMPLOYEE SHARE PURCHASE PLAN AND DIRECTOR/PDMR DEALINGS
Calgary, Alberta - July 11, 2023 - Southern Energy Corp. ("Southern" or the "Company") (SOU: TSXV) (AIM:SOUC) (OTCQX:SOUTF) announces the following purchases of common shares ("Common Shares") under its Employee Share Purchase Plan, which was adopted by the Company on April 1, 2023 and is described in more detail in the Management Information Circular accompanying the 2023 Notice of Annual General Meeting. It is noted that such Common Shares purchased pursuant to the Employee Share Purchase Plan are subject to a six calendar month restriction on their sale.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation (as applied in UK law), provide further detail on the applicable transactions.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name | 1. Ian Atkinson 2. Calvin Yau 3. Gary McMurren | ||||||||||||
| 2. | Reason for the notification | |||||||||||||
| a) | Position/status | 1. Director, President and Chief Executive Officer 2. Chief Financial Officer 3. Chief Operating Officer | ||||||||||||
| b) | Initial notification /Amendment | Initial notification | ||||||||||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | Southern Energy Corp. | ||||||||||||
| b) | LEI | 213800R25GL7J3EBJ698 | ||||||||||||
| 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 | |||||||||||||
| a) | Description of the financial instrument, type of instrument | Common Shares in Southern Energy Corp. | ||||||||||||
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| Identification code | CA8428131059 | |||||||||||||
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| b) | Nature of the transaction | Purchase of Common Shares under the Company's Employee Share Purchase Plan | ||||||||||||
| c) | Price(s) and volume(s)
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| d) | Aggregated information | | ||||||||||||
| | N/A, single transaction for each PDMR
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| e) | Date of the transaction | 6 July 2023 | ||||||||||||
| f) | Place of the transaction | TSX Venture Exchange | ||||||||||||
For further information, please contact:
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About Southern Energy Corp.
Southern Energy Corp. is a natural gas exploration and production company. Southern has a primary focus on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. Our management team has a long and successful history working together and have created significant shareholder value through accretive acquisitions, optimization of existing oil and natural gas fields and the utilization of re-development strategies utilizing horizontal drilling and multi-staged fracture completion techniques.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.
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