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Pin to quick picksEcho Energy Share News (ECHO)

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Share Price: 0.004
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TRADING UPDATES: DP Poland finds new CFO; Spectral MD wins new money

Tue, 30th Aug 2022 20:17

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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HSBC Holdings PLC - Asia-focused lender - Prices three subordinated note offers. Says 7.35% 2032 notes priced at fixed spread of 235 basis points, giving USD1,145 per USD1,000, while 7.625% 2032 notes at USD1,159.

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DP Poland PLC - franchisor in Poland for Domino's Pizza - Executive Director and Chief Financial Officer Malgorzata Potkanska to step down on September 30. Will appoint Edward Kacyrz to role, who has worked at Mars, Levi Strauss and Kimberly Clark in Poland. "Having started his career in accounting and finance roles, Edward progressed into business development, corporate development and strategy at Velvet Care and most recently at Smyk, Poland's leading toys and children apparel retailer," it adds. Kacyrz to take up role on December 1. "If any gap arises between departure of the current CFO and arrival of the incoming CFO, the company's finance function will be overseen by a non-executive director and supported by Maciej Jania, former CFO of DP Poland and current head of Revenue," it explains.

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Spectral MD Holdings Ltd - London and Dallas, Texas-based predictive analytics for wound care - Wins USD8.2 million in additional funding from US Biomedical Advanced Research & Development Authority. "The additional funding will further accelerate the commercialisation of the company's DeepView Wound Imaging System by expanding the number of sites for the clinical training study for burn wounds, increasing DeepView's interoperability with health systems' electronic health records, and accelerating the company's manufacturing readiness," it says.

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Directa Plus PLC - London-based graphene nanoplatelets supplier - Nets notice of allowance from the United States Patent & Trademark Office for the grant of a patent covering the company's G+ embedded polyurethane membrane. Giulio Cesareo, founder and chief executive of firm, says: "Our core textile offering is generating considerable interest in the US market and therefore patent protection, and defence, in the territories in which we operate remains a fundamental part of our strategy to create value for shareholders." G+ membranes provide superior thermal comfort by enhancing heat retention, it notes.

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Iconic Labs PLC - London-based media and technology company - Says it enters settlement agreement with Greencastle Media, Arch Capital Partners LLP, D Sefton and the European High Growth Opportunities Securitization Fund. "As a result, all litigation proceedings have been dismissed, and all claims, counter claims, including defamation claims, among the parties, have been waived or will be waived upon the company voluntary arrangement being approved," it adds. As a result, CVA proposals finalised and being sent to creditors. Notes European High Growth Opportunities Securitization Fund agrees to provide funding for CVA and general working capital purposes. Shares suspension will be lifted if CVA approved.

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Longboat Energy PLC - exploration and production company focused on the North Sea - Starts drilling at Copernicus exploration well, which is 10%-owned by company, in Norway. "Copernicus is the primary prospect located in license PL1017, which lies on the Utgard High in the Voring Basin region of the Norwegian Sea," company explains. "The drilling of the Copernicus well 6608/1-1S, operated by PGNiG Upstream Norway AS, is being undertaken by the Deepsea Yantai drilling rig and is expected to take up to eight weeks to drill."

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Mosman Oil & Gas Ltd - Sydney-based oil and gas company with projects in Australia and the US - Expects drilling at Cinnabar-1 well in Tyler County, Texas to start in "next week or two". "The Cinnabar well is planned for a vertical depth of 9,900 feet. The primary targets are the Wilcox sands, which produce oil and gas in nearby wells. The drilling is expected to take about two weeks," it adds. Owns about 75% working interest in well.

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Echo Energy PLC - London-based energy company focused on Latin America - Says it has been granted 1-month extension to publish 2021 annual results. Must now publish results by September 30. "With the audit of the local Argentinian JV entity, in which Echo holds a 70% non-operated interest, completed in August 2022, the company's UK auditor is now working to finalise its own audit of the company and the company will endeavour to publish the 2021 annual report as soon as possible, and significantly ahead of 30 September 2022," it adds.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
26 Aug 2022 11:50

Echo Energy makes progress at Santa Cruz Sur

(Sharecast News) - Latin America-focussed energy company Echo Energy updated the market on progress in the production and infrastructure enhancement plan at the Santa Cruz Sur assets on Friday.

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26 Aug 2022 11:14

AIM WINNERS & LOSERS: Westminster wins contract; i3 cuts guidance

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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26 Aug 2022 10:08

Echo Energy shares up on "critical steps" towards Santa Cruz plan

(Alliance News) - Echo Energy PLC shares were up on Friday as it said it has made "critical steps" in its Production & Infrastructure Enhancement plan for its Santa Cruz Sur assets.

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15 Aug 2022 11:21

Echo Energy raises GBP600,000 in oversubscribed placing

(Alliance News) - Echo Energy PLC on Monday said it has raised GBP600,000 via an oversubscribed placing of 242.0 million shares at 25 pence each.

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12 Aug 2022 18:01

IN BRIEF: Echo Energy proposes placing and debt restructuring

Echo Energy PLC - London-based energy company focused on Latin America - Proposes placing by way of accelerated bookbuild to raise at least GBP450,000 in shares at 0.25 pence each. The issue price is around a 3% discount to Thursday's closing price of 0.257p. Also proposes restructuring of existing debt, conditionally agreeing with Lombard Odier Asset Management Europe Ltd to convert its EUR5.0 million 8.0% secured convertible debt facility with LO into new shares at 0.45p each. The conversion price is a 75% premium to the closing price on Thursday, it says.

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25 Jul 2022 20:30

IN BRIEF: Echo Energy closer to boosting Santa Cruz Sur output

Echo Energy PLC - London-based energy company focused on Latin America - Says equipment mobilised at Santa Cruz Sur asset as part of plan to upgrade power generation capacity to levels sufficient to sustain elevated output. Echo in July had announced plans to materially lift output at Santa Cruz Sur. Echo on Monday says equipment has been mobilised at asset and installation will take a month.

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7 Jul 2022 16:48

TRADING UPDATES: Michelmersh Brick, Mattioli Woods on-track for growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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27 Jun 2022 21:51

TRADING UPDATES: Anglo-Eastern Plantations sees palm oil prices rise

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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20 Jun 2022 15:40

UK shareholder meetings calendar - next 7 days

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EJF Investments LtdAGM
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Good Energy Group PLCAGM
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Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
30 May 2022 18:47

IN BRIEF: Echo Energy increases gas production at Oceano field

Echo Energy PLC - London-based energy company focused on Latin America - Says daily gas production at Oceano field has materially increased following upgrade programme. Over the first quarter, the field produced an average of 1.72 million standard cubic feet gas per day, and is now producing 2.63 million standard cubic feet per day since the upgrades. Total average gas production net to Echo across the Santa Cruz Sur assets for the 12 days to May 21 rises to 8.4 million standard cubic feet, which is 14% higher than the average for the first quarter.

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3 May 2022 16:04

Echo Energy secures new gas sales contracts at "significant" premiums

(Alliance News) - Latin-American focused upstream energy company Echo Energy PLC said on Tuesday that it secured two new gas sales contracts at significant premiums to 2021 contracted rates.

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5 Apr 2022 12:32

IN BRIEF: Echo Energy posts lower quarterly oil production

Echo Energy PLC - London-based energy company focused on Latin America - Provides operational update on its Santa Cruz Sur assets in Argentina for the first quarter. Compared to the fourth quarter of 2021, total net production of barrels of oil equivalent per day grows by 6% to 1,491. However, this is below the average net daily production of 1,966 it achieved in the year 2020.

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11 Feb 2022 10:12

Ferrexpo promotes non-exec director to senior independent director

Ferrexpo promotes non-exec director to senior independent director

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14 Jan 2022 14:45

Echo Energy enters Chilean market with 70% interest in solar project

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14 Oct 2021 19:46

TRADING UPDATES: ITM eyes fundraise; Marshall Motor buys Motorline

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