Completion of Debt Facility

RNS Number : 1712G

Echo Energy PLC

25 May 2017

 

Echo Energy plc

("Echo Energy" or the "Company")

Completion of Debt Facility

Echo Energy, the South American focused upstream oil & gas company is pleased to confirm the issue of 40,303,325* warrants to Greenberry plc.  This follows approval at the General Meeting on 22 May 2017 and completes the arrangements associated with the £1m secured loan, announced on 6 March 2017.

*post consolidation of the share capital

For further information please contact:

Independent Resources / Echo Energy James Parsons, Chairman Greg Coleman, Chief Executive Officer

[e-mail] [e-mail]

ZAI Corporate Finance Limited - Nominated Adviser                     [phone]

John Treacy

Brandon Hill Capital Limited - Broker                                            [phone]

Jonathan Evans / Oliver Stansfield

The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR").

ANNEX

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Greenberry plc
2	Reason for the notification
a)	Position/status	Notification concerns a PCA, being a legal person the managerial responsibilities of which are discharged by Marco Fumagalli, a PDMR of Independent Resources plc
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Echo Energy plc
b)	LEI	2138006SNII7SKIGG445
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	Warrants
	Identification code
b)	Nature of the transaction	Grant of warrants
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			3p	40,303,325
d)	Aggregated information
	- Aggregated volume	N/A
	- Price	N/A
e)	Date of the transaction	24 May 2017
f)	Place of the transaction	London Stock Exchange

 

END

 

 

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