Last checked at 18 Dec 2017 15:02
18 December 2017
Echo Energy plc
("Echo" or the "Company")
Issue of Options and Director/PDMR Shareholding
Echo Energy plc, the South and Central American focused upstream gas company, announces that,
as detailed in the Company's admission document dated 15 December 2017, the Company has today issued a total of 30,000,000 options to subscribe for new ordinary shares in the Company under the Company's EMI Share Option Plan (the "Options") in the quantities, and on the terms, described below.
The issue of the Options includes the issue of 24,000,000 Options to subscribe for new ordinary shares in the Company ("Ordinary Shares") at a price of 16.12 pence per new Ordinary Share to Fiona MacAulay, the Company's Chief Executive Officer. The intention to issue these 24,000,000 Options was first announced by the Company on 12 June 2017, on Fiona MacAulay's appointment as the Company's Chief Executive Officer that have not to date been issued. The remainder of the Options issued today also relate to previously agreed but unissued options to other Echo employees.
The Options have been granted under the Company's EMI Plan as follows:
Number of Ordinary Shares under option
| Exercise price (pence) | Vesting date | Latest exercise date |
24,000,000 | 16.12 | 05.07.2020 | 05.07.2022 |
6,000,000 | 13.75 | 05.07.2020 | 05.07.2022 |
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the issue of Options.
For further information please contact:
Echo Energy plc Fiona MacAulay, CEO Will Holland, CFO
|
f.macaulay@echoenergyplc.com w.holland@echoenergyplc.com |
Smith & Williamson (Nominated Adviser) Azhic Basirov David Jones Ben Jeynes
| +44 (0)20 7131 4000
|
Hannam & Partners (Advisory) LLP (Financial Adviser and Corporate Broker) Giles Fitzpatrick Andrew Chubb Ernest Bell
| +44 (0)20 7907 8500
|
Vigo Communications (PR Adviser) Patrick d'Ancona Chris McMahon Ali Roper
| +44 (0)20 7830 9700 |
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
| Fiona Margaret Barkham (Fiona MacAulay) | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| PDMR (Director) | |||
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 | Options to subscribe for ordinary shares of 0.25p each | |||
Identification code | GB00BF0YPG76 | ||||
b)
| Nature of the transaction
| Grant of options | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
16.12p | 24,000,000 | ||||
d)
| Aggregated information | n/a - single transaction | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 18 December 2017 | |||
f)
| Place of the transaction
| Outside a trading venue | |||