Echo Energy PLC Completion of Debt Facility (1712G)

TIDMECHO

RNS Number : 1712G

Echo Energy PLC

25 May 2017

Echo Energy plc

("Echo Energy" or the "Company")

Completion of Debt Facility

Echo Energy, the South American focused upstream oil & gas company is pleased to confirm the issue of 40,303,325* warrants to Greenberry plc. This follows approval at the General Meeting on 22 May 2017 and completes the arrangements associated with the GBP1m secured loan, announced on 6 March 2017.

*post consolidation of the share capital

For further information please contact:

 
Independent Resources / Echo Energy 
 James Parsons, Chairman 
 Greg Coleman, Chief Executive Officer      [e-mail] 
                                            [e-mail] 
 
   ZAI Corporate Finance Limited - Nominated Adviser                     [phone] 

John Treacy

Brandon Hill Capital Limited - Broker [phone]

Jonathan Evans / Oliver Stansfield

The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR").

ANNEX

Template for notification 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 
                                        Greenberry plc 
----  -----------------------------  ---------------------------------- 
 2     Reason for the notification 
----  ----------------------------------------------------------------- 
 a)    Position/status                Notification concerns a PCA, 
                                       being a legal person the 
                                       managerial responsibilities 
                                       of which are discharged by 
                                       Marco Fumagalli, a PDMR of 
                                       Independent Resources plc 
----  -----------------------------  ---------------------------------- 
 b)    Initial notification           Initial Notification 
        /Amendment 
----  -----------------------------  ---------------------------------- 
 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                 Warrants 
        the financial 
        instrument, type 
        of instrument 
---- 
 
       Identification 
        code 
 
 b)    Nature of the                  Grant of warrants 
        transaction 
----  -----------------------------  ---------------------------------- 
 c)    Price(s) and volume(s) 
----                                  --------------  --------------- 
                                       Price(s)        Volume(s) 
----                                  --------------  --------------- 
                                       3p              40,303,325 
                                      --------------  --------------- 
 
 d)    Aggregated information 
---- 
 
  - Aggregated volume            N/A 
 
  - Price                        N/A 
 
 e)    Date of the transaction        24 May 2017 
----  -----------------------------  ---------------------------------- 
 f)    Place of the transaction       London Stock Exchange 
----  -----------------------------  ---------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 25, 2017 06:00 ET (10:00 GMT)