Echo Energy plc, the Latin American focused energy company, announces that it has made application for an additional 230,911,860 new ordinary shares of 0.25p each in the Company ("Additional Block Admission Shares") to be admitted to trading on AIM by way of a block admission (the "Block Admission Update").
Application has been made for the Additional Block Admission Shares, which will, when issued, rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission") at 8.00 a.m. on 19 April 2022.
In addition, and reflecting the expiry of 68,143,517 historically issued warrants since the date of the last block admission update on 11 October 2021, the Company also provides the following update.
The Block Admission Update, which will enable the Company to continue to handle future smaller warrant exercises in an efficient manner and does not result in any change in the number of ordinary shares in issue until such time as any warrants subject to the Block Admission Update are exercised, is in addition to the balance of 19,000,000 ordinary shares in the Company ("Ordinary Shares") currently admitted to trading on AIM pursuant to prior block admissions in connection with warrants to subscribe for new Ordinary Shares in the Company (together with the Block Admission Update the "Block Admissions").
Following Admission, the Company will continue to have 1,452,491,345 Ordinary Shares in issue, which remains unchanged from previous notifications.
The Block Admission Update has been made in respect of the issue of 230,911,860 new Ordinary Shares which may be issued pursuant to the following issues of warrants (as defined below):
