Echo Energy PLC Block Admission Interim Review (3299M)

TIDMECHO

RNS Number : 3299M

Echo Energy PLC

16 September 2019

16 September 2019

Echo Energy plc

("Echo" or the "Company")

Block Admission Interim Review

Echo Energy plc, the Latin American focused upstream oil and gas company, makes the following notification pursuant to Rule 29 of, and Schedule Six to, the AIM Rules for Companies regarding its existing block admission arrangements (the "Block Admissions").

There have been no increases to the Block Admissions, which enable the Company to handle exercises of historically issued warrants in an efficient manner, during the period under review and nor have there been any new ordinary shares issued.

 
 Name of the company:                                                                           Echo Energy plc 
 Name of scheme:                                                                                1.Warrants to subscribe for new 
                                                                                                Ordinary Shares at a price of 3p 
                                                                                                per new Ordinary Share issued 
                                                                                                by the Company in 2017 (the 
                                                                                                "March 2017 Warrants"). The grant 
                                                                                                of the March 2017 Warrants was 
                                                                                                announced by the Company on 6 
                                                                                                March 2017 and were granted as 
                                                                                                part of the institutional 
                                                                                                investment 
                                                                                                and Board changes described 
                                                                                                therein; 
                                                                                                2.Warrants to subscribe for new 
                                                                                                Ordinary Shares at a price of 
                                                                                                15.1875p per new Ordinary Shares 
                                                                                                issued by the Company in 2017 
                                                                                                (the "May 2017 Warrants - Batch 
                                                                                                1"). The grant of the May 2017 
                                                                                                Warrants - Batch 1 was announced 
                                                                                                on 15 May 2017 in connection with 
                                                                                                the issue by the Company 
                                                                                                of secured loan notes described 
                                                                                                therein; and 
                                                                                                3.Warrants to subscribe for new 
                                                                                                Ordinary Shares at a price of 
                                                                                                15.1875p per new Ordinary Shares 
                                                                                                issued by the Company in 2017 
                                                                                                (the "May 2017 Warrants - Batch 
                                                                                                2"). The grant of the May 2017 
                                                                                                Warrants - Batch 2 was announced 
                                                                                                by the Company on 19 May 2017 in 
                                                                                                connection with a GBP10m 
                                                                                                placing. 
                                                                                               ---------------------------------- 
 Period of return:                                                                              From:     14      To:   13 
                                                                                                          March         September 
                                                                                                          2019          2019 
                                                                                               --------  ------  ----  ---------- 
 Number of unallotted securities not issued under the scheme(s) at the start of the period:       1:      61,538,461 
                                                                                                   2.      26,571,096 
                                                                                                   3.      7,238,271 
                                                                                                 Total:    95,347,828 
                                                                                               --------  ------------------------ 
 Plus: The amount by which the block scheme(s) has been increased since the date of the last 
  return (if any increase has been applied for):                                                  1:      0 
                                                                                                   2:      0 
                                                                                                   3:      0 
                                                                                                 Total:    0 
                                                                                               --------  ------------------------ 
 Less: Number of securities issued/allotted under scheme(s) during period:                        1:      0 
                                                                                                   2:      0 
                                                                                                   3:      0 
                                                                                                 Total:    0 
                                                                                               --------  ------------------------ 
 Equals: Balance under scheme(s) not yet issued/allotted at end of period:                        1:      61,538,461 
                                                                                                   2:      26,571,096 
                                                                                                   3:      7,238,271 
                                                                                                 Total:    95,347,828 
                                                                                               --------  ------------------------ 
 Number and class of securities originally admitted and the date of admission: 
                                                                                                   1:      64,538,461 - 2 March 
                                                                                                           2018 
                                                                                                   2: 
                                                                                                           8,224,007 - 2 March 
                                                                                                           2018 
                                                                                                   3:      18,347,089 - 19 
                                                                                                           September 2018 
                                                                                                 Total: 
                                                                                                           7,238,271 - 2 March 
                                                                                                           2018 
 
                                                                                                           98,347,828 
                                                                                               --------  ------------------------ 
 Name of contact:                                                                               AMBA Secretaries Limited, Company 
                                                                                                Secretary 
                                                                                               ---------------------------------- 
 Telephone number of contact:                                                                   [phone] 
                                                                                               ---------------------------------- 
 
 

For further information please contact:

 
  Echo Energy 
   Martin Hull, Managing Director                  [e-mail] 
  Cenkos Securities (Nominated Adviser) 
   David Jones 
   Ben Jeynes 
   Katy Birkin                                   [phone] 
  Hannam & Partners (Joint Corporate Broker) 
   Giles Fitzpatrick 
   Andrew Chubb 
   Ernest Bell                                   [phone] 
 
 
  Shore Capital (Joint Corporate Broker) 
   Jerry Keen                                [phone] 
 
 
  Vigo Communications (PR Adviser) 
   Patrick d'Ancona 
   Chris McMahon                       [phone] 
 

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September 16, 2019 02:01 ET (06:01 GMT)