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28 Sep 2022 11:12
28 September 2022
Echo Energy plc
("Echo" or the "Company")
Noteholder Meeting Results
Adjourned Noteholder Meeting
Echo Energy, the Latin American focused energy company, announces the results of the meeting of the holders of the Company's Luxembourg listed EUR 20.0m 8.0% secured notes (the "Notes") held earlier today (the "Noteholder Meeting") to consider the Company's proposals for the restructuring of the Notes (the "Proposals").
Voting instructions representing EUR 6.2m of the Notes were lodged by holders of the Notes ("Noteholders") with 76 per cent. of votes cast in favour of the Proposals.
With votes representing 31 per cent. of the aggregate principal amount of the outstanding Notes cast, the Noteholder Meeting was therefore adjourned for want of the necessary quorum and an adjourned Noteholder Meeting, to consider the Proposals in unchanged form, will now be held at 10.00 a.m. on 13 October 2022 (the "Adjourned Noteholder Meeting").
The Adjourned Noteholder Meeting will require a reduced quorum of 25 per cent. of the aggregate principal amount of the outstanding Notes and not less than two thirds of votes cast in favour at the Adjourned Noteholder Meeting for the Proposals to be passed by Noteholders.
Voting instructions already lodged by Noteholders remain valid for the Adjourned Noteholder Meeting and the relevant Noteholders need take no further action to be represented at the Adjourned Noteholder Meeting.
A circular providing Noteholders with notice of the Adjourned Noteholder Meeting will be sent to Noteholders later today and will be available from the Company's website at www.echoenergyplc.co.uk shortly thereafter.
For further information please contact:
Echo Energy plc Martin Hull, Chief Executive Officer | Via Vigo Communications Ltd
|
Cenkos Securities plc (Nominated Adviser) Ben Jeynes Katy Birkin
| Tel: 44 (0)20 7397 8900 |
Vigo Consulting Ltd (IR/PR Advisor) Patrick d'Ancona Chris McMahon
| Tel: 44 (0)20 7390 0230 |
Arden Partners plc (Corporate Broker) Simon Johnson (Corporate Broking) John Llewellyn-Lloyd (Corporate Finance) | Tel: 44 (0)20 7614 5900
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Certain of the information contained within this announcement is deemed by the Company to constitute inside information as stipulated under The Market Abuse Regulation (EU 596/2014) pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2018. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
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