Echo Energy PLC Issue of Options and Director/PDMR Shareholding (6665Z)

TIDMECHO

RNS Number : 6665Z

Echo Energy PLC

18 December 2017

18 December 2017

Echo Energy plc

("Echo" or the "Company")

Issue of Options and Director/PDMR Shareholding

Echo Energy plc, the South and Central American focused upstream gas company, announces that,

as detailed in the Company's admission document dated 15 December 2017, the Company has today issued a total of 30,000,000 options to subscribe for new ordinary shares in the Company under the Company's EMI Share Option Plan (the "Options") in the quantities, and on the terms, described below.

The issue of the Options includes the issue of 24,000,000 Options to subscribe for new ordinary shares in the Company ("Ordinary Shares") at a price of 16.12 pence per new Ordinary Share to Fiona MacAulay, the Company's Chief Executive Officer. The intention to issue these 24,000,000 Options was first announced by the Company on 12 June 2017, on Fiona MacAulay's appointment as the Company's Chief Executive Officer that have not to date been issued. The remainder of the Options issued today also relate to previously agreed but unissued options to other Echo employees.

The Options have been granted under the Company's EMI Plan as follows:

 
 Number of          Exercise price   Vesting date   Latest exercise 
  Ordinary Shares    (pence)                         date 
  under option 
-----------------  ---------------  -------------  ---------------- 
 24,000,000             16.12         05.07.2020      05.07.2022 
-----------------  ---------------  -------------  ---------------- 
 6,000,000              13.75         05.07.2020      05.07.2022 
-----------------  ---------------  -------------  ---------------- 
 

The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the issue of Options.

For further information please contact:

 
 Echo Energy plc                      [e-mail] 
  Fiona MacAulay, CEO                  [e-mail] 
  Will Holland, CFO 
 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] 
 

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                           Fiona Margaret Barkham (Fiona 
                                       MacAulay) 
----  -----------------------------  ----------------------------------- 
 2     Reason for the notification 
----  ------------------------------------------------------------------ 
 a)    Position/status                PDMR (Director) 
----  -----------------------------  ----------------------------------- 
 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                 Options to subscribe for 
        the financial                  ordinary shares of 0.25p 
        instrument, type               each 
        of instrument 
---- 
 
       Identification                 GB00BF0YPG76 
        code 
 
 b)    Nature of the                  Grant of options 
        transaction 
----  -----------------------------  ----------------------------------- 
 c)    Price(s) and volume(s) 
----                                  --------------  ---------------- 
                                       Price(s)        Volume(s) 
----                                  --------------  ---------------- 
                                       16.12p          24,000,000 
                                      --------------  ---------------- 
 
 d)    Aggregated information         n/a - single transaction 
---- 
 
  - Aggregated volume 
 
  - Price 
 
 e)    Date of the transaction        18 December 2017 
----  -----------------------------  ----------------------------------- 
 f)    Place of the transaction       Outside a trading venue 
----  -----------------------------  ----------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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December 18, 2017 10:02 ET (15:02 GMT)