Echo Energy, the Latin American focused upstream oil and gas company, announces that it has received notice for the exercise of 5,245,098 warrants to subscribe for new ordinary shares in the Company. 2,622,549 warrants were exercised at an exercise price of 0.7 pence and 2,622,549 warrants were exercised at an exercise price of 0.75 pence. As a result, an application has been made for 5,245,098 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 19 April 2021 ("Admission"). Following Admission, the Company's issued ordinary share capital will comprise 1,298,813,085 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 1,298,813,085, 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.
