Last checked at 24 Oct 2019 17:35
24 October 2019
Echo Energy plc
("Echo Energy" or the "Company")
Grant of Options
Echo Energy, the Latin American focused upstream oil and gas company, announces that further to the announcement on 21 October 2019, it has today issued to Martin Hull, Chief Executive of the Company, options to subscribe for 12 million new ordinary shares in the capital of the Company ("Ordinary Shares"), exercisable at a price of 6.55 pence per new Ordinary Share (the "Options").
The Options vest on 11 December 2021 and are capable of exercise thereafter until 11 December 2023.
Following the issue of the Options, Mr. Hull is interested in 600,000 Ordinary Shares, representing 0.10 per cent. of the Company's issued ordinary share capital, and holds a total of 12,000,000 options to subscribe for new Ordinary Shares, all of which are exercisable at 6.55 pence per new Ordinary Share.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further details.
For further information please contact:
Echo Energy Martin Hull, Chief Executive
| via Vigo Communications |
Vigo Communications (PR Advisor) Patrick d'Ancona Chris McMahon
| +44 (0)20 7390 0230 |
Cenkos Securities (Nominated Adviser) Ben Jeynes Katy Birkin
| +44 (0)20 7397 8900 |
Hannam & Partners (Joint Corporate Broker) Giles Fitzpatrick Andrew Chubb Ernest Bell
| +44 (0)20 7907 8500 |
Shore Capital (Joint Corporate Broker) Jerry Keen
| +44 (0)20 7408 4090 |
NOTIFICATIONS AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Martin Hull | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| PDMR (Chief Executive) | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Echo Energy plc | |||
b)
| LEI
| 2138006SNII7SKIGG445 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
| ||||
a)
| Description of the financial instrument, type of instrument | Ordinary shares of 0.25p each | |||
Identification code | GB00BF0YPG76 | ||||
b)
| Nature of the transaction
| Grant of options to acquire ordinary shares of 0.25p each | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 12,000,000 | ||||
d)
| Aggregated information | n/a - single transaction | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 24 October 2019 | |||
f)
| Place of the transaction
| Outside a trading venue | |||