Echo Energy, the Latin American focused upstream oil and gas company, announces that it has received notice for the exercise of 74,200,000 warrants to subscribe for new ordinary shares in the Company at an exercise price of 0.3 pence per new ordinary share. As a result, an application has been made for 74,200,000 new ordinary shares in the Company (the "New Ordinary Shares") to be admitted to trading on AIM.
It is expected that admission of the New Ordinary Shares, which will rank pari passu with the Company's existing ordinary shares, will occur at 8.00 a.m. on 16 April 2021 ("Admission"). Following Admission, the Company's issued ordinary share capital will comprise 1,293,567,987 Ordinary Shares, none of which are held in treasury.
Therefore, following Admission, the total number of ordinary shares with voting rights in the Company will be 1,293,567,987, which 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
