Business
Proposed Acquisition and Notice of General Meeting
Proposed Acquisition and Notice of General Meeting.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5748Z Echo Energy PLC 18 December 2017 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n18 December 2017\nEcho Energy plc\n(\"Echo\" or the \"Company\")\n \nProposed acquisition of interests in oil and gas assets in Argentina\n \nPlacing of 36,391,412 Ordinary Shares at 17.5 pence per Ordinary Share\n \nIntended Open Offer of up to 11,428,572 new Ordinary Shares at 17.5 pence per Ordinary Share\n \nAdmission of Enlarged Share Capital to trading on AIM\n \nNotice of General Meeting\n \nEcho Energy plc, the South and Central American focused upstream gas company, is pleased to announce that an admission document detailing the proposed farm-in to 50 per cent. interests in each of the Fracción C, Fracción D and Laguna De Los Capones concessions (the \"Concessions\") and to a 50 per cent. interest in the Tapi Aike exploration permit (the \"Exploration Permit\"), each located onshore in Argentina (the \"Transaction\") has been published and posted to Shareholders. The admission document contains a notice convening a general meeting of the Company for 2.00 p.m. on 3 January 2018 at the offices of Link Asset Services, 65 Gresham Street, London EC2V 7NQ. The admission document includes a Competent Person's Report on the Company's proposed new assets. \n \nThe Company expects that trading in the Company's Ordinary Shares on AIM will resume at 8.00 a.m. today.\n \nHighlights:\n \n· The Company announced on 1 November 2017 that, in line with its stated strategy, it had entered into a conditional farm-in agreement with Compañía General de Combustibles S.A. (\"CGC\") for the acquisition by the Company of 50 per cent. working interests in certain of the onshore Argentinian gas and oil assets of CGC.\n \n· Echo is to acquire 50 per cent. working interests in each of the Fracción C, Fracción D and Laguna De Los Capones Concessions and in the Tapi Aike Exploration Permit each located in the Austral basin of Santa Cruz pr...