We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Echo Energy Plc | LSE:ECHO | London | Ordinary Share | GB00BF0YPG76 | ORD 0.0001P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0041 | 0.004 | 0.0042 | 0.0041 | 0.0041 | 0.0041 | 153,456,502 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Drilling Oil And Gas Wells | 14.11M | -9.59M | -0.0017 | 0.00 | 0 |
From Apr 2019 to Apr 2024
TIDMECHO
RNS Number : 7790L
Echo Energy PLC
21 July 2017
Echo Energy plc
("Echo" or the "Company")
Admission of Shares
Application has been made to the London Stock Exchange plc for the admission of up to a total of 23,712,955 ordinary shares of 0.25 pence each in the Company (the "New Ordinary Shares") to be admitted to trading on AIM (the "Admission of Shares").
The New Ordinary Shares for which admission is sought consists of 17,479,623 ordinary shares which have been issued following recent exercises of warrants and a total of up 6,233,332 which and are expected to be issued from time to time by way of a Block Admission pursuant to the exercise of four categories of warrants to subscribe for new ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") already in issue as detailed below.
Following admission, the Company will continue to have 362,139,733 Ordinary Shares in issue, which remains unchanged from previous notifications. The block admission is a pre-approved mechanism which enables the Company to handle future smaller warrant exercises in an efficient manner.
The Block Admissions, which replace all prior Echo Energy block admissions in place prior to the Consolidation, have been made in respect of the issue of Ordinary Shares pursuant to the exercise of the following warrants and in the amounts shown below.
(i) Warrants to subscribe for new Ordinary Shares at a price of 30p per new Ordinary Share issued by the Company in 2015 (the "May 2015 Warrants - Batch 2"). The grant of the May 2015 Warrants - Batch 2 was announced by the Company on 8 May 2015 and formed part of the placing to raise gross proceeds of GBP800k;
(ii) Warrants to subscribe for new Ordinary Shares at a price of 25p per new Ordinary Share issued by the Company in 2015 (the "November 2015 Warrants - Batch 1"). The grant of the November 2015 Warrants - Batch 1 was announced by the Company on 16 November 2015 and were granted as part of the placing, with one placing warrant issued for every placing share;
(iii) Warrants to subscribe for new Ordinary Shares at a price of 18p per new Ordinary Share issued by the Company in 2015 (the "November 2015 Warrants - Batch 2"). The grant of the November 2015 Warrants - Batch 2 was announced by the Company on 16 November 2015 and were granted to Brandon Hill as part of the placing, representing 5% of the total placing;
(iv) Warrants to subscribe for new Ordinary Shares at a price of 3p per new Ordinary Share issued by the Company in 2016 (the "December 2016 Warrants - Batch 1"). The grant of the December 2016 Warrants - Batch 1 was announced by the Company on 6 December 2016 and were granted to cash placees as part of the placing announced at that time;
together the "Warrants".
Block Admissions - Totals do not include warrants already exercised
May 2015 Warrants - Batch 2 160,000 ------------------------ ---------- November 2015 Warrants - Batch 1 5,333,333 ------------------------ ---------- November 2015 Warrants - Batch 2 240,000 ------------------------ ---------- December 2016 Warrants - Batch 1 499,999 ------------------------ ---------- Total: 6,233,332 ------------------------ ----------
The Warrants comprise four of the eight Echo Energy warrant instruments included under prior block admission applications announced by the Company on 30 March 2017. The three warrant instruments identified in the Company's 30 March 2017 announcement as the 'May 2015 Warrants - Batch 1', the 'May 2015 Warrants - Batch 3' and the 'July 2015 Warrants' have now lapsed and the warrant instrument identified in the Company's 30 March 2017 announcement as the 'December 2016 Warrants - Batch 2' have now been exercised in their entirety and no longer therefore form part of the Company's Block Admissions.
In total, 17,079,623 warrants were exercised in the period between the share consolidation and the date of this announcement and 400,000 prior to the consolidation (10,000,000 pre-consolidation) (the "Warrant Shares").
The New Ordinary Shares, being the Block Admissions and the Warrant Shares, are expected to be admitted to trading on AIM on 24 July 2017 and will, when issued, rank pari passu with the Company's existing Ordinary Shares.
Following admission, the Company will continue to have 362,139,733 Ordinary Shares in issue, which remains unchanged from previous notifications.
For further information please contact:
Hot Features
Premium
James Parsons Echo Energy plc j.parsons@echoenergyplc.com
Fiona MacAulay Echo Energy plc f.macaulay@echoenergyplc.com
ZAI Corporate Finance
John Treacy Ltd. 020 7060 2220
(Nominated Adviser)
Oliver Stansfield Brandon Hill Capital
Jonathan Evans (Broker) 020 3463 5000
Patrick d'Ancona
Chris McMahon Vigo Communications
Ali Roper (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.
Block Admission Update as at 23 May 2017
The below represents an update to the Company's previous Block Admissions between the creation of those admissions and the Company's share consolidation effective 23 May 2017.
Name of Company: Echo Energy plc
------------------------------------ -------------------------------------
Name of scheme: (i) Block admission to
satisfy the issue of
ordinary shares of 0.25p
each in the Company ("Ordinary
Shares") from time to
time pursuant to the
exercise of warrants
issued by the Company
in 2015 to subscribe
for new Ordinary Shares
at a price of 30p per
new Ordinary Share ("May
2015 Warrants - Batch
2")
(ii) Block admission
to satisfy the issue
of ordinary shares of
0.25p each in the Company
("Ordinary Shares") from
time to time pursuant
to the exercise of warrants
issued by the Company
in 2015 to subscribe
for new Ordinary Shares
at a price of 25p per
new Ordinary Share ("November
2015 Warrants - Batch
1")
(iii) Block admission
to satisfy the issue
of ordinary shares of
0.25p each in the Company
("Ordinary Shares") from
time to time pursuant
to the exercise of warrants
issued by the Company
in 2015 to subscribe
for new Ordinary Shares
at a price of 18p per
new Ordinary Share ("November
2015 Warrants - Batch
2")
(iv) Block admission
to satisfy the issue
of ordinary shares of
0.25p each in the Company
("Ordinary Shares") from
time to time pursuant
to the exercise of warrants
issued by the Company
in 2016 to subscribe
for new Ordinary Shares
at a price of 3p per
new Ordinary Share ("December
2016 Warrants - Batch
1")
(v) Block admission to
satisfy the issue of
ordinary shares of 0.25p
each in the Company ("Ordinary
Shares") from time to
time pursuant to the
exercise of warrants
issued by the Company
in 2016 to subscribe
for new Ordinary Shares
at a price of 2p per
new Ordinary Share ("December
2016 Warrants - Batch
2")
------------------------------------ -------------------------------------
Period of return: From 5 April 2017 to
23 May 2017
------------------------------------ -------------------------------------
Number of unallotted (i) 160,000
securities not issued (ii) 5,333,333
under the scheme(s) at (iii) 240,000
the start of the period: (iv) 16,063,132
(v) 1,916,490
Total: 23,712,955
------------------------------------ -------------------------------------
Plus: The amount by which (i) 0
the block scheme(s) has
been increased since
the date of the last
return (if any increase
has been applied for):
(ii) 0
(iii) 0
(iv) 0
(v) 0
Total: 0
------------------------------------ -------------------------------------
Less: Number of securities (i) 0
issued/allotted under (ii) 0
scheme(s) during period: (iii) 0
(iv) 15,563,133
(v) 1,916,490
Total: 17,079,624
------------------------------------ -------------------------------------
Equals: Balance under (i) 160,000
scheme(s) not yet issued/allotted (ii) 5,333,333
at end of period: (iii) 240,000
(iv) 499,999
(v)
Total: [6,233,332
------------------------------------ -------------------------------------
Number and class of securities (i) 160,000
originally admitted and (ii) 5,333,333
the date of admission: (iii) 240,000
(iv) 16,063,133
(v) 1,916,490
Total: 23,712,955
Date of Admission 30.03.17
------------------------------------ -------------------------------------
Name of contact: Amanda Bateman, Company
Secretary
------------------------------------ -------------------------------------
Telephone number of contact: 0207 070 0447
------------------------------------ -------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
ALSLLFVLDFILFID
(END) Dow Jones Newswires
July 21, 2017 07:36 ET (11:36 GMT)
1 Year Echo Energy Chart |
1 Month Echo Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
