Holding(s) in Company

RNS Number : 0750J

Echo Energy PLC

23 June 2017

 

23 June 2017

Echo Energy plc

("Echo" or the "Company")

Holdings in Company

Echo Energy, the South American focused upstream oil & gas company has been advised that Greenberry plc, the Company's Cornerstone Investor, has executed the following pre-planned transactions to distribute its equity and warrant position amongst a broad portfolio of pre-identified Institutional Investors, as follows:

61,538,462 warrants exercisable at 3.0 pence per warrant sold to an Institutional Investor on 23^rd June 2017 for a price of GBP 0.0001 per warrant;

138,749,177 warrants exercisable at 15.175 pence per warrants, sold to a number of Institutional and Corporate Investors on 23^rd June 2017 in two tranches being 30,431,634 transferred at nil consideration and 108,317,352 transferred for a consideration of GBP 108,318;

In addition, Greenberry has sold 26,745,910 shares on 23^rd June 2017 for a total consideration of GBP 447,994. 

As a result of the above transactions Greenberry now holds 40,118,865 shares totalling 11.1% of the Company's voting rights and 30,653,292 warrants.

James Parsons		Echo Energy plc	[e-mail]
Fiona MacAulay		Echo Energy plc	[e-mail]
John Treacy		ZAI Corporate Finance Ltd. (Nominated Adviser)	020 7060 2220
Oliver Stansfield Jonathan Evans		Brandon Hill Capital (Broker)	020 3463 5000
Patrick d'Ancona Chris McMahon Ali Roper		Vigo Communications (PR Adviser)	020 7830 9700

The information contained within this announcement is considered to be inside information prior to its release as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

 

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