Echo Energy PLC Block Admission Interim Review (1053T)
March 23 2021 - 2:00AM
UK Regulatory
TIDMECHO
RNS Number : 1053T
Echo Energy PLC
23 March 2021
23 March 2021
Echo Energy plc
("Echo" or the "Company")
Block Admission Interim Review
Echo Energy plc, the Latin American focused upstream oil and gas
company, provides an update in relation to the Company's block
admission arrangements (the "Block Admissions") in respect of new
ordinary shares of 0.25p in the Company ("Ordinary Shares") which
may be issued as a result of future exercises of existing warrants
and options. The Block Admissions have been put in place to enable
the Company to handle any future exercises of existing warrants and
options in an efficient manner.
Block Admission Interim Review
Pursuant to Rule 29 of, and Schedule Six to, the AIM Rules for
Companies, the Company provides the following notification
regarding its Block Admissions.
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. Options to subscribe for new
Ordinary Shares at a price of
1.625p per new Ordinary Share
granted by the Company to certain
of the Company's employees in
March 2017 (the "March 2017
Options"). The grant of the March
2017 Options to certain of the
Company's employees was announced
by the Company on 6 March;
3. Warrants to subscribe for new
Ordinary Shares at a price of 3.0p
per new Ordinary Share
issued by the Company in November
2019 (the "November 2019
Warrants"). The issue of the
November
2019 Warrants, which were issued
in connection with the Company's
EUR5.0 million secured debt
facility put in place at that
time, was first announced by the
Company on 21 October 2019;
and
4. Warrants to subscribe for new
Ordinary Shares at a price of 1.4p
per new Ordinary Share
issued by the Company in March
2020 (the "March 2020 Warrants").
The issue of the March 2020
Warrants, which were issued in
connection with the extension of
an existing GBP1.0 million
secured debt facility, was
announced by the Company on 6
March 2020.
5. Warrants to subscribe for new
Ordinary Shares at a price of 1.0p
per new Ordinary Share
issued by the Company in July 2020
(the "July 2020 Placing
Warrants"). The issue of the July
2020 Placing Warrants, which were
issued in connection with a
placing of new Ordinary Shares
under taken at that time, was
announced by the Company on 27
July 2020.
6. Warrants to subscribe for new
Ordinary Shares at a price of 0.8p
per new Ordinary Share
issued by the Company in July 2020
(the "July 2020 Fee Warrants").
The issue of the July 2020
Fee Warrants, which were issued in
respect of fees incurred in
connection with a placing of
new Ordinary Shares under taken at
that time, was announced by the
Company on 27 July 2020.
------------------------------------
Period of return: From: 15 To: 19
September March
2020 2021
-------- ---------- ---- --------
1: 61,538,461
2: 3,033,628
3: 74,200,000
4: 3,571,428
5: 13,300,000
6: 5,700,000
Number of unallotted securities not issued under the scheme(s) at the start of the period: Total: 161,343,517
-------- --------------------------
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
4: 0
5: 0
6: 0
Total: 0
-------- --------------------------
Less: Number of securities issued/allotted under scheme(s) during period: 1: 0
2: 0
3: 0
4: 0
5: 0
6: 0
Total: 0
-------- --------------------------
1: 61,538,461
2: 3,033,628
3: 74,200,000
4: 3,571,428
5: 13,300,000
6: 5,700,000
Equals: Balance under scheme(s) not yet issued/allotted at end of period: Total: 161,343,517
-------- --------------------------
Number and class of securities originally admitted and the date of admission:
1: 64,538,461 - 2 March
2018
2:
3, 033,628 -20 March
3: 2020
4: 74,200,000 - 20 March
2020
5:
3,571,428 - 20 March
6: 2020
Total: 13,300,000 - 21
September 2020
5,700,000 - 21 September
2020
164,343,517
-------- --------------------------
Name of contact: AMBA Secretaries Limited, Company
Secretary
------------------------------------
Telephone number of contact: +44 (0)20 7190 9930
------------------------------------
For further information please contact:
Echo Energy
Martin Hull, Chief Executive Officer via Vigo Communications
Cenkos Securities (Nominated Adviser)
Ben Jeynes
Katy Birkin +44 (0)20 7397 8900
Shore Capital (Corporate Broker)
Jerry Keen +44 (0)20 7408 4090
Vigo Communications (PR Adviser)
Patrick d'Ancona
Chris McMahon +44 (0)20 7390 0230
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