Issue of Equity and Total Voting Rights

Echo Energy PLC

29 January 2024

 

29 January 2024

Echo Energy plc

("Echo" or the "Company")

Issue of Equity and Total Voting Rights

Echo Energy plc announces that, pursuant to the announcement on the 21^st December 2023 regarding the "Issue of Convertible Loan Note" and the further announcement of the conversion on the 26^th January 2024,  the Company has received a Conversion Notice for £15,000 in respect of outstanding Loan Notes and it has today issued 333,333,333 new Ordinary shares of 0.0001 pence each  at a price of 0.0045 pence per new Ordinary share, being the lesser of: (i) 150% of the Company's closing bid price on the trading day immediately prior to the date of draw-down of the relevant tranche; or (ii) 90% of the lowest closing bid price in the five trading days immediately preceding the date of conversion (the "Conversion Price") as specified in the agreement.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ('Admission') and it is expected that such  Admission is expected to take place on or around 8.00 a.m. on 1st February 2024.

In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the new Ordinary Shares, its issued ordinary share capital will comprise 7,729,971,419 Ordinary shares. All of the Ordinary shares have equal voting rights and none of the ordinary shares are held in Treasury. The total number of voting rights in the Company will therefore be 7,729,971,419. The above figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interests in, or change to their interest in, the Company.

For further information please contact:

Echo Energy Stephen Birrell, Chief Executive Officer	[e-mail]
Cavendish Capital Markets Limited (Nominated Adviser) Adrian Hadden Ben Jeynes	Tel: [phone]

 

END