Statement re Share Price Movement and Suspension

RNS Number : 9019U

Echo Energy PLC

30 October 2017

 

30 October 2017

Echo Energy plc

("Echo" or the "Company")

Statement re Share Price Movement

Suspension of Trading on AIM

Echo Energy, the South and Central American focused upstream gas company, notes the recent share price movement and confirms that it is in discussions in relation to a potential farm in by the Company into certain onshore oil and gas assets in South America (the "Proposed Transaction").

By virtue of its size, the Proposed Transaction would constitute a reverse takeover under Rule 14 of the AIM Rules for Companies. Accordingly, the Company's ordinary shares will be suspended from trading on AIM with effect from 07:30 today, pending publication of an AIM admission document and circular to shareholders to approve the Proposed Transaction or an announcement that the Proposed Transaction has been terminated.

Further announcements will be made, as appropriate, in due course.

For further information please contact:

Echo Energy plc Fiona MacAulay, CEO Will Holland, CFO	[e-mail] [e-mail]
Smith & Williamson (Nominated Adviser) Azhic Basirov David Jones Ben Jeynes	[phone]
Hannam & Partners (Advisory) LLP (Financial Adviser and Corporate Broker) Giles Fitzpatrick Andrew Chubb Ernest Bell	[phone]
Vigo Communications (PR Adviser) Patrick d'Ancona Chris McMahon Ali Roper	[phone]

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

END

 

 

MSCFESFMUFWSEIS