Issue of Options and Director/PDMR Shareholding

RNS Number : 6665Z

Echo Energy PLC

18 December 2017

 

18 December 2017

Echo Energy plc

("Echo" or the "Company")

Issue of Options and Director/PDMR Shareholding

Echo Energy plc, the South and Central American focused upstream gas company, announces that,

as detailed in the Company's admission document dated 15 December 2017, the Company has today issued a total of 30,000,000 options to subscribe for new ordinary shares in the Company under the Company's EMI Share Option Plan (the "Options") in the quantities, and on the terms, described below.

The issue of the Options includes the issue of 24,000,000 Options to subscribe for new ordinary shares in the Company ("Ordinary Shares") at a price of 16.12 pence per new Ordinary Share to Fiona MacAulay, the Company's Chief Executive Officer. The intention to issue these 24,000,000 Options was first announced by the Company on 12 June 2017, on Fiona MacAulay's appointment as the Company's Chief Executive Officer that have not to date been issued. The remainder of the Options issued today also relate to previously agreed but unissued options to other Echo employees. 

The Options have been granted under the Company's EMI Plan as follows:

Number of Ordinary Shares under option	Exercise price (pence)	Vesting date	Latest exercise date
24,000,000	16.12	05.07.2020	05.07.2022
6,000,000	13.75	05.07.2020	05.07.2022

The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the issue of Options.

For further information please contact:

Echo Energy plc Fiona MacAulay, CEO Will Holland, CFO	[e-mail] [e-mail]
Smith & Williamson (Nominated Adviser) Azhic Basirov David Jones Ben Jeynes	[phone]
Hannam & Partners (Advisory) LLP (Financial Adviser and Corporate Broker) Giles Fitzpatrick Andrew Chubb Ernest Bell	[phone]
Vigo Communications (PR Adviser) Patrick d'Ancona Chris McMahon Ali Roper	[phone]

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	Fiona Margaret Barkham (Fiona MacAulay)
2	Reason for the notification
a)	Position/status	PDMR (Director)
b)	Initial notification /Amendment	Initial notification
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 financial instrument, type of instrument	Options to subscribe for ordinary shares of 0.25p each
	Identification code	GB00BF0YPG76
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			16.12p	24,000,000
d)	Aggregated information	n/a - single transaction
	- Aggregated volume
	- Price
e)	Date of the transaction	18 December 2017
f)	Place of the transaction	Outside a trading venue

 

END

 

 

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