Business
Completion of £10,000,000 Subscription
Completion of £10,000,000 Subscription.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8746H Echo Energy PLC 13 June 2017 \n\nEcho Energy plc\n(\"ECHO\" or the \"Company\")\nCompletion of £10,000,000 Subscription\n \nEcho is delighted to announce today the completion of the Subscription announced on 19 May 2017,\nAs previously announced, Pegasus A. Fund Ltd. SAC (\"Pegasus\"), or other parties procured by Pegasus, agreed to subscribe for 98,765,429 new Ordinary Shares (the \"Subscription Shares\") at a price of 10.125p per share to raise gross proceeds of approximately GBP 10,000,000 before expenses (the \"Subscription\"). Echo now confirms that Pegasus and other institutional investors will be issued with the Subscription Shares and the Warrants to take effect on 14 June 2017. \nApplication has been made for the Subscription Shares, which will rank pari passu with the existing ordinary shares, to be admitted to trading on AIM (\"Admission\"). Admission is expected to occur on 14 June 2017.\nFollowing Admission, the total number of voting rights in the Company will be 361,473,066 ordinary shares. This number 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 FCA's Disclosure and Transparency Rules.\n \nFor further information please contact:\nEcho Energy\nJames Parsons, Chairman [email protected]\nFiona MacAulay, Chief Executive Officer &n...