Director/PDMR Shareholding

RNS Number : 0519Z

Echo Energy PLC

19 May 2021

 

19 May 2021

Echo Energy plc

("Echo" or "the Company")

Director/PDMR Shareholding

Echo Energy, the Latin American-focused full cycle energy company, announces that on 18 May 2021 it was notified that Nusakan plc ("Nusakan") had on that same day, as part of a broader realisation of that investment vehicle, distributed the entirety of its 3.1% shareholding in Echo, being 40,118,865 ordinary shares in the Company ("Ordinary Shares"), directly to Nusakan's own shareholders for no consideration (the "Nusakan Distribution"). Marco Fumagalli, a Non-Executive Director of the Company, is a 25% shareholder of Nusakan.

Marco Fumagalli's beneficial interest in the Company is unchanged as a result of the Nusakan Distribution, with Mr. Fumagalli now holding a direct interest in 10,029,716 Ordinary Shares, representing approximately 0.77% of the Company's issued ordinary share capital, in his own name.

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

For further information, please contact:

Echo Energy Martin Hull, Chief Executive Officer	via Vigo Communications
Vigo Communications (PR Advisor) Patrick d'Ancona Chris McMahon	[phone]
Cenkos Securities (Nominated Adviser) Ben Jeynes Katy Birkin	[phone]
Shore Capital (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	Marco Fumagalli
2	Reason for the notification
a)	Position/status	PDMR (Non-Executive Director)
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	Receipt of ordinary shares by way of distribution in specie
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	10,029,716
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	18 May 2021
f)	Place of the transaction	Outside a trading venue

 

END

 

 

DSHUWANRASUVAAR