Every two Placing Shares have one warrant attached, with each warrant having the right to acquire one new Ordinary Share at an exercise price of 1.5 pence for a period of two years from the date of the admission of the Placing Shares.
It is good news. Lombard are an asset finance (loan) company they do not stay in shares the the long term. they make their money and exit. I am guessing they had a deal with Echo that they wouldn't dump until the share was stable enough to not break. I think we can now deal with Lombard exiting. Within the next week this share price will move up.