Grant of Options

RNS Number : 0881R

Echo Energy PLC

24 October 2019

 

24 October 2019

Echo Energy plc

("Echo Energy" or the "Company")

Grant of Options

Echo Energy, the Latin American focused upstream oil and gas company, announces that further to the announcement on 21 October 2019, it has today issued to Martin Hull, Chief Executive of the Company, options to subscribe for 12 million new ordinary shares in the capital of the Company ("Ordinary Shares"), exercisable at a price of 6.55 pence per new Ordinary Share (the "Options").

The Options vest on 11 December 2021 and are capable of exercise thereafter until 11 December 2023.

Following the issue of the Options, Mr. Hull is interested in 600,000 Ordinary Shares, representing 0.10 per cent. of the Company's issued ordinary share capital, and holds a total of 12,000,000 options to subscribe for new Ordinary Shares, all of which are exercisable at 6.55 pence per new Ordinary Share.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details.

For further information please contact:

Echo Energy Martin Hull, Chief Executive	via Vigo Communications
Vigo Communications (PR Advisor) Patrick d'Ancona Chris McMahon	[phone]
Cenkos Securities (Nominated Adviser) 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]

NOTIFICATIONS 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	Martin Hull
2	Reason for the notification
a)	Position/status	PDMR (Chief Executive)
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	Ordinary shares of 0.25p each
	Identification code	GB00BF0YPG76
b)	Nature of the transaction	Grant of options to acquire ordinary shares of 0.25p each
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	12,000,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	24 October 2019
f)	Place of the transaction	Outside a trading venue

 

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