TIDMECHO

RNS Number : 0519Z

Echo Energy PLC

19 May 2021

19 May 2021

Echo Energy plc

("Echo" or "the Company")

Director/PDMR Shareholding

Echo Energy, the Latin American-focused full cycle energy company, announces that on 18 May 2021 it was notified that Nusakan plc ("Nusakan") had on that same day, as part of a broader realisation of that investment vehicle, distributed the entirety of its 3.1% shareholding in Echo, being 40,118,865 ordinary shares in the Company ("Ordinary Shares"), directly to Nusakan's own shareholders for no consideration (the "Nusakan Distribution"). Marco Fumagalli, a Non-Executive Director of the Company, is a 25% shareholder of Nusakan.

Marco Fumagalli's beneficial interest in the Company is unchanged as a result of the Nusakan Distribution, with Mr. Fumagalli now holding a direct interest in 10,029,716 Ordinary Shares, representing approximately 0.77% of the Company's issued ordinary share capital, in his own name.

The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further details.

For further information, please contact:

 
Echo Energy                             via Vigo Communications 
 Martin Hull, Chief Executive Officer 
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 
Shore Capital (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                                    Marco Fumagalli 
      --------------------------------------  ---------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------------- 
 a)    Position/status                         PDMR (Non-Executive Director) 
      --------------------------------------  ---------------------------------------- 
 b)    Initial notification                    Initial notification 
        /Amendment 
      --------------------------------------  ---------------------------------------- 
 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                      Ordinary shares of 0.25p each 
        financial instrument, 
        type of instrument 
 
       Identification code                     GB00BF0YPG76 
 
 b)    Nature of the transaction               Receipt of ordinary shares by way 
                                                of distribution in specie 
      --------------------------------------  ---------------------------------------- 
 c)    Price(s) and volume(s) 
                                               -----------------  ------------------ 
                                                Price(s)           Volume(s) 
                                               -----------------  ------------------ 
    Nil                                                            10,029,716 
   -------------------------------------------------------------  ------------------ 
 
 d)    Aggregated information                  n/a - single transaction 
 
  - Aggregated volume 
 
  - Price 
 
 e)    Date of the transaction                 18 May 2021 
      --------------------------------------  ---------------------------------------- 
 f)    Place of the transaction                Outside a trading venue 
      --------------------------------------  ----------------------------------------

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END

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May 19, 2021 02:00 ET (06:00 GMT)

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