Echo Energy PLC Block Admission Update (6163D)
20 Octubre 2022 - 10:16AM
UK Regulatory
TIDMECHO
RNS Number : 6163D
Echo Energy PLC
20 October 2022
20 October 2022
Echo Energy plc
("Echo" or the "Company")
Block Admission Update
Echo Energy plc, the Latin American focused upstream energy
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 enable the Company to handle any future
exercises of existing warrants and options in an efficient manner
and the Company continues to have 1,956,661,288 Ordinary Shares in
issue, which remains unchanged from previous notifications.
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 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.
2. 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.
3. Warrants to subscribe for new Ordinary Shares at
a price of 0.70p per new Ordinary Share
issued by the Company in January 2021 (the "January
2021 Warrants - Batch 1"). The grant of
the January 2021 Warrants - Batch 1 was announced by
the Company on 22 December 2020 in connection
with the issue of subscription shares by the Company
described therein with 50% of the January
2021 Warrants - Batch 1 being subject to the receipt
of the necessary share issuance authorities
at the Company's 2021 annual general meeting.
4. Warrants to subscribe for new Ordinary Shares at
a price of 0.75p per new Ordinary Share
issued by the Company in January 2021 (the "January
2021 Warrants - Batch 2"). The grant of
the January 2021 Warrants - Batch 2 was announced by
the Company on 22 December 2020 in connection
with the issue of subscription shares by the Company
described therein with 50% of the January
2021 Warrants - Batch 2 being subject to receipt of
the necessary share issuance authorities
at the Company's 2021 annual general meeting.
5. Warrants to subscribe for new Ordinary Shares at
a price of 0.7p per new Ordinary Share,
in relation to the restructuring of the Company's
loan with Spartan, announced on 1 October
2021 (the "Spartan Warrants").
6. Warrants to subscribe for new Ordinary Shares at
a price of 0.65p per new Ordinary Share
issued by the Company on 14 January 2022 (the
"January 2022 Warrants - Batch 1") in connection
with the issue of subscription shares by the Company
described in the announcement therein.
In addition, the Company also announced that it had
conditionally agreed to issue a further
78,260,869 warrants to subscribe for new Ordinary
Shares exercisable at 0.65 pence per new
Ordinary Share subject to the receipt of the
necessary share issuance authorities at the
Company's
2022 annual general meeting. These additional
warrants were subsequently issued but are not
subject to a block admission.
------------------------------------------------------
Period of return: From: 11 April 2022 To: 19 October
2022
------- ------------------------ ---- -------------
1: 13,300,000
2: 5,700,000
3: 81,299,020
4: 81,299,020
5: 3,096,429
6: 65,217,391
Number of unallotted securities not issued under the scheme(s) at the start of the period: Total: 249,911,860
---------------- ------------------------------------
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: 0
2: 0
3: 0
4: 0
5: 0
6: 0
Total: 0
---------------- ------------------------------------
Less: Number of securities issued/allotted under scheme(s) during period: 1: 0
2: 0
3: 0
4: 0
5: 0
6: 0
Total: 0
---------------- ------------------------------------
1: 13,300,000
2: 5,700,000
3: 81,299,020
4: 81,299,020
5: 3,096,429
6: 65,217,391
Equals: Balance under scheme(s) not yet issued/allotted at end of period: Total: 249,911,860
---------------- ------------------------------------
Number and class of securities originally admitted and the date of admission: 1: 13,300,000 - 21 September 2020
2: 5,700,000 - 21 September 2020
3: 81,299,020 - 19 April 2022
4: 81,299,020 - 19 April 2022
5: 3,096,429 - 19 April 2022
6: 65,217,391 - 19 April 2022
---------------- ------------------------------------
Name of contact: AMBA Secretaries Limited, Company Secretary
------------------------------------------------------
Telephone number of contact: +44 (0)20 7190 9930
------------------------------------------------------
For further information please contact:
Echo Energy plc Via Vigo Communications Ltd
Martin Hull, Chief Executive
Officer
Cenkos Securities plc (Nominated Tel: 44 (0)20 7397 8900
Adviser)
Ben Jeynes
Katy Birkin
Vigo Consulting Ltd (IR/PR Tel: 44 (0)20 7390 0230
Advisor)
Patrick d'Ancona
Finlay Thomson
Arden Partners plc (Corporate Tel: 44 (0)20 7614 5900
Broker)
Simon Johnson (Corporate Broking)
John Llewellyn-Lloyd (Corporate
Finance)
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END
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(END) Dow Jones Newswires
October 20, 2022 11:16 ET (15:16 GMT)
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