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Block Admissions, Issue of Options & PDMR Holding
Block Admissions, Issue of Options & PDMR Holding.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 1577G Echo Energy PLC 28 February 2018 \n\n28 February 2018\n \nEcho Energy plc\n(\"Echo\" or the \"Company\")\n \nBlock Admissions, Issue of Options and Director/PDMR Shareholding\n \nEcho Energy plc, the South and Central American focused upstream gas company, announces that following its re-admission to trading on AIM on 4 January 2018, it has today made application to restate the block admissions that were in place prior to the Company's re-admission (the \"Block Admissions\") of up to a total of 80,400,739 ordinary shares of 0.25 pence each in the Company (\"Ordinary Shares\") to be admitted to trading on AIM. \n \nApplication has been made for the Block Admission Ordinary 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 2 March 2018.\n \nFollowing admission, the Company will continue to have 402,003,697 Ordinary Shares in issue, which remains unchanged from previous notifications. \n \nThe Block Admissions, which enable the Company to handle future smaller warrant exercises in an efficient manner, replace all prior Echo Energy block admissions in place prior to the Company's re-admission to AIM on 4 January 2018 and have been made in respect of the issue of new Ordinary Shares which may be issued pursuant to the exercise of certain existing warrants to subscribe for new Ordinary Shares in the amounts shown below. \n(i) Warrants to subscribe for new Ordinary Shares at a price of 30p per new Ordinary Share issued by the Company in 2015 (the \"May 2015 Warrants\"). The grant of the May 2015 Warrants was announced by the Company on 8 May 2015 and formed part of the placing to raise gross proceeds of GBP800k;\n(ii) Warrants to subscribe for new Ordinary Shares at a price of 18p per new Ordinary Share issued by the Company in 2015 (the \"November 2015 Warrants\"). The grant of the November 2015 Warrants was announced by the Company on 16 November 2015 and were granted as part of the placing announced therein, representing 5% of the total placing; \n(iii) Warrants to subscribe for new Ordinary Shares at a price of 3p per new O...