Block Admission Interim Update

RNS Number : 8004S

Echo Energy PLC

14 March 2019

 

14 March 2019

Echo Energy plc

("Echo" or the "Company")

Block Admission Interim Review

Echo Energy plc, the Latin American focused upstream oil and gas company, makes the following notification pursuant to Rule 29 of, and Schedule Six to, the AIM Rules for Companies regarding its existing block admission arrangements (the "Block Admissions").

There have been no increases to the Block Admissions, which enable the Company to handle exercises of historically issued warrants in an efficient manner, during the period under review and nor have there been any new ordinary shares issued.

Name of the company:	Echo Energy plc
Name of scheme:	1. Warrants to subscribe for new Ordinary Shares at a price of 18p per new Ordinary Share issued by the Company in 2015 (the "November 2015 Warrants"). The grant of the November 2015 Warrants was announced by the Company on 16 November 2015 and were granted as part of the placing announced therein, representing 5% of the total placing;  2.Warrants to subscribe for new Ordinary Shares at a price of 3p per new Ordinary Share issued by the Company in 2017 (the "March 2017 Warrants"). The grant of the March 2017 Warrants was announced by the Company on 6 March 2017 and were granted as part of the institutional investment and Board changes described therein; 3.Warrants to subscribe for new Ordinary Shares at a price of 15.1875p per new Ordinary Shares issued by the Company in 2017 (the "May 2017 Warrants - Batch 1"). The grant of the May 2017 Warrants - Batch 1 was announced on 15 May 2017 in connection with the issue by the Company of secured loan notes described therein; and 4.Warrants to subscribe for new Ordinary Shares at a price of 15.1875p per new Ordinary Shares issued by the Company in 2017 (the "May 2017 Warrants - Batch 2"). The grant of the May 2017 Warrants - Batch 2 was announced by the Company on 19 May 2017 in connection with a  £10m placing.
Period of return:	From:	14 September 2018		To:	13 March 2019
Number of unallotted securities not issued under the scheme(s) at the start of the period:	1: 2: 3. 4. Total:		240,000 61,538,461 26,571,096 7,238,271 95,587,828
Plus:  The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for):	1: 2: 3: 4: Total:		0 0 0 0 0
Less:  Number of securities issued/allotted under scheme(s) during period:	1: 2: 3: 4: Total:		240,000 underlying warrants expired during period 0 0 0 0
Equals:  Balance under scheme(s) not yet issued/allotted at end of period:	1: 2: 3: 4: Total:		0 61,538,461 26,571,096 7,238,271 95,347,828
Number and class of securities originally admitted and the date of admission:	1: 2: 3: 4: Total:		240,000 Ordinary Shares - 2 March 2018 (admission now withdrawn due to lapse of underlying warrants) 64,538,461 - 2 March 2018 8,224,007 - 2 March 2018 18,347,089 - 19 September 2018 7,238,271 - 2 March 2018 98,587,828
Name of contact:	AMBA Secretaries Limited, Company Secretary
Telephone number of contact:	[phone]

For further information please contact:

Echo Energy Martin Hull, Managing Director	[e-mail]
Cenkos Securities (Nominated Adviser) David Jones Ben Jeynes Katy Birkin	[phone]
Hannam & Partners (Joint Corporate Broker) Giles Fitzpatrick Andrew Chubb Ernest Bell	[phone]

Shore Capital (Joint Corporate Broker) Jerry Keen

[phone]

Vigo Communications (PR Adviser) Patrick d'Ancona Chris McMahon

[phone]

 

END

 

 

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