Last checked at 30 Oct 2017 07:00
30 October 2017
Echo Energy plc
("Echo" or the "Company")
Statement re Share Price Movement
Suspension of Trading on AIM
Echo Energy, the South and Central American focused upstream gas company, notes the recent share price movement and confirms that it is in discussions in relation to a potential farm in by the Company into certain onshore oil and gas assets in South America (the "Proposed Transaction").
By virtue of its size, the Proposed Transaction would constitute a reverse takeover under Rule 14 of the AIM Rules for Companies. Accordingly, the Company's ordinary shares will be suspended from trading on AIM with effect from 07:30 today, pending publication of an AIM admission document and circular to shareholders to approve the Proposed Transaction or an announcement that the Proposed Transaction has been terminated.
Further announcements will be made, as appropriate, in due course.
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 |
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.