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Pin to quick picksEcho Energy Regulatory News (ECHO)

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Block Admission Interim Review

23 Mar 2021 07:00

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 €5.0 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 £1.0 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 September 2020

To:

19 March 2021

Number of unallotted securities not issued under the scheme(s) at the start of the period:

1:

2:

3:

4:

5:

6:

 

Total:

61,538,461

3,033,628

74,200,000

3,571,428

13,300,000

5,700,000

 

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:

2:

3:

4:

5:

6:

Total:

0

0

0

0

0

0

0

Less: Number of securities issued/allotted under scheme(s) during period:

1:

2:

3:

4:

5:

6:

Total:

0

0

0

0

0

0

0

Equals: Balance under scheme(s) not yet issued/allotted at end of period:

 

1:

 

2:

 

3:

 

4:

 

5:

 

6:

 

Total:

 

61,538,461

 

3,033,628

 

74,200,000

 

3,571,428

 

13,300,000

 

5,700,000

 

161,343,517

 

Number and class of securities originally admitted and the date of admission:

 

1:

 

2:

 

3:

 

4:

 

5:

 

6:

 

Total:

 

 

64,538,461 - 2 March 2018

 

3,033,628 -20 March 2020

 

74,200,000 - 20 March 2020

 

3,571,428 - 20 March 2020

 

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

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
BLRBCGDXCUDDGBD
Date   Source Headline
27th Mar 20247:00 amRNSChange of Nominated Adviser and Broker
12th Mar 20242:32 pmRNSResults of General Meeting
23rd Feb 20244:00 pmRNSNotice of General Meeting
21st Feb 20243:30 pmRNSHolding(s) in Company
20th Feb 20246:00 pmRNSHolding(s) in Company
15th Feb 202411:36 amRNSHolding(s) in Company
14th Feb 202411:37 amRNSHolding(s) in Company
8th Feb 20242:30 pmRNSProposed Warrant Issue
7th Feb 20247:00 amRNSIssue of Equity and Total Voting Rights
29th Jan 20244:15 pmRNSIssue of Equity and Total Voting Rights
29th Jan 20247:00 amRNSIssue of Equity and Total Voting Rights
26th Jan 202411:45 amRNSIssue of Equity and Total Voting Rights
22nd Dec 20237:05 amRNSIssue of Equity, Award of Options & TVR
21st Dec 20237:55 amRNSIssue of Convertible Loan Note
19th Dec 20238:24 amRNSSuccessful Debt Restructuring
28th Nov 20233:28 pmRNSChange of Nominated Adviser
14th Nov 20237:00 amRNSBoard Changes
31st Oct 20233:36 pmRNSResults of GM & Total Voting Rights
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31st Aug 20235:22 pmRNSUpdate re: Publication of 2022 Annual Report
31st Jul 202312:53 pmRNSUpdate re: Publication of 2022 Annual Report
3rd Jul 20237:30 amRNSSuspension - Echo Energy plc
29th Jun 202311:49 amRNSSuspension of Trading
28th Jun 20234:57 pmRNSHolding(s) in Company
27th Jun 20233:41 pmRNSDisposal and Admission of Subscription Shares
26th Jun 20234:39 pmRNSResult of Annual General Meeting
2nd Jun 20239:17 amRNSPosting of Circular
26th May 20237:00 amRNSPartial Sale of Santa Cruz Sur Assets
9th May 20237:00 amRNSProposed Partial Sale of Santa Cruz Sur Assets
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18th Apr 20237:00 amRNSQ1 2023 Production, Commercial & Corporate Update
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3rd Mar 20234:35 pmRNSPrice Monitoring Extension
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3rd Feb 20234:43 pmRNSHolding(s) in Company
2nd Feb 20237:00 amRNSCommercial and Financial Update
1st Feb 202310:37 amRNSChange of Adviser
23rd Jan 20232:05 pmRNSSecond Price Monitoring Extn
23rd Jan 20232:00 pmRNSPrice Monitoring Extension
13th Jan 20237:00 amRNSQ4 2022 Production Update & Directorate Change
23rd Dec 20227:01 amRNSIntended Non-Executive Director Appointment
23rd Dec 20227:00 amRNSExercise of Warrants and Total Voting Rights
19th Dec 20223:06 pmRNSHolding(s) in Company
15th Dec 20226:05 pmRNSHolding(s) in Company
15th Dec 20224:40 pmRNSSecond Price Monitoring Extn

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