Echo Energy PLC PDMR Dealings

RNS Number : 0526Z

Echo Energy PLC

02 August 2024

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

2 August 2024

Echo Energy plc

("Echo" or the "Company")

PDMR Dealings

 

Echo (LON:ECHO), the Latin America focused natural resources company, confirms that Christian Yates, Non-Executive Chair, purchased 243,172,784 ordinary shares at a price of GBP£0.000041 per share in the Company.

 

Following this transaction, which is detailed in the PDMR Notification Dealing Form below, Mr Yates is interested in 243,172,784 ordinary shares in the capital of the Company, representing 1.06% which is calculated on the total number of ordinary shares carrying voting rights of 23,038,575,407.

 

The following notification, made pursuant to Article 19(3) of the Market Abuse Regulation, provides further details.

 

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	Christian Yates
2.	Reason for the notification
a.	Position/status	Non-Executive Chair
b.	Initial notification/Amendment	Initial Notification
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 the Financial instrument, type of instrument Identification code	Ordinary shares of GBP0.000001 per share par value     GB00BF0YPG76
b.	Nature of the transaction	Purchase of Ordinary Shares
c.	Price(s) and volume(s)	Price(s) Volume(s) 0.000041 243,172,784
d.	Aggregated information ·      Aggregated volume ·      Price	243,172,784 shares GBP£0.000041 per share
e.	Date of the transaction	1 August 2024
f.	Place of the transaction	London Stock Exchange, AIM

 

For further information please contact:

 

Echo                                                                                                                                      Via Vigo Consulting

Stephen Birrell, Chief Executive Officer                                                                 [e-mail]

 

Zeus Capital Limited (Nominated Adviser and Broker)                                   Tel: [phone]

James Joyce

James Bavister

Isaac Hooper

 

Vigo Consulting (Investor Relations)                                                                      Tel: [phone]

Ben Simons                                                                                                                        [e-mail]

Peter Jacob

 

About Echo

Following the partial divestment of its assets in Argentina, Echo entered into a 50:50 joint venture in Peru in July 2024 with an experienced local partner for precious metals (gold/silver) mining and the cleaning of known tailings deposits containing Measured and Indicated resources of gold and silver. Through the JV, known as Boku Resources, Echo has secured an opportunity to scale operations in Peru producing gold and silver through primary mining and tailings cleaning, owning 50% of the production and resources. Initially, Boku intends to establish formalised artisanal and small mining operations on its 100% held Tesoro Gold concession, southern Peru, targeting early cash flow generation by Q4 2024.

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