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

 

+44 (0)20 7390 0230

Cenkos Securities (Nominated Adviser)

Ben Jeynes

Katy Birkin

 

+44 (0)20 7397 8900

Hannam & Partners (Joint Corporate Broker)

Giles Fitzpatrick

Andrew Chubb

Ernest Bell

 

+44 (0)20 7907 8500

Shore Capital (Joint Corporate Broker)

Jerry Keen

 

+44 (0)20 7408 4090



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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END
 
 
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