Echo Energy PLC Exercise of Warrants and Total Voting Rights (6934K)
December 23 2022 - 2:00AM
UK Regulatory
TIDMECHO
RNS Number : 6934K
Echo Energy PLC
23 December 2022
[23 December 2022
Echo Energy plc
("Echo Energy", "Echo" or the "Company")
Exercise of Warrants and Total Voting Rights
Echo Energy plc, the Latin American focused energy company,
announces that following the exercise of existing warrants to
subscribe for new ordinary shares ("Ordinary Shares") in the
Company at a price of 0.25 pence per new Ordinary Share (the
"Warrants"), the Company will make application for 33,190,876 new
Ordinary Shares to be admitted to trading on AIM ("Admission").
The Warrant exercise price of 0.25 pence per new Ordinary Share
represents a 108% premium to the closing mid-market price per
Ordinary Share on 22 December 2022.
The new Ordinary Shares will rank pari passu with the Company's
existing Ordinary Shares and it is expected that Admission will
occur at 8.00 a.m. on 3 January 2023.
The Warrants have been exercised by Andina Plc, an existing
shareholder of the Company. On Admission, Andina Plc will be
interested in a total of 135,130,876 Ordinary Shares, representing
2.43 per cent. of the Company's issued ordinary share capital on
Admission.
Following Admission, the Company's issued ordinary share capital
will comprise 5,560,618,550 Ordinary Shares, none of which are held
in treasury. Therefore, the total number of Ordinary Shares with
voting rights in Echo following Admission will be
5,560,618,550.
The above figure of may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in or a change to their
interest in the Company under the FCA's Disclosure Guidance and
Transparency Rules.
For further information, please contact:
Echo Energy via Vigo Consulting
Martin Hull, Chief Executive Officer
Vigo Consulting (IR/PR Advisor)
Patrick d'Ancona
Finlay Thomson
Kendall Hill +44 (0) 20 7390 0230
Cenkos Securities (Nominated Adviser)
Ben Jeynes
Katy Birkin +44 (0) 20 7397 8900
Arden Partners plc (Corporate Broker)
Simon Johnson (Corporate Broking)
John Llewellyn-Lloyd (Corporate Finance) +44 (0) 20 7614 5900
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END
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