REG - Echo Energy PLC - Issue of Equity and Total Voting Rights

Echo EnergyAnnouncement

29/01/2024 16:15

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RNS Number : 2659B  Echo Energy PLC  29 January 2024

29 January 2024

Echo Energy plc

("Echo" or the "Company")

Issue of Equity and Total Voting Rights

Echo Energy plc is pleased to announce that is has conditionally raised
£250,000 (before expenses), pursuant to a direct subscription for, in
aggregate, 5,555,555,556 new Ordinary Shares of 0.0001 pence each (the
"Subscription Shares") at an issue price of 0.0045 pence per new ordinary
share (the "Issue Price) by certain new investors (the "Subscription").

In addition, the Company announces the issue of an aggregate of 363,555,556
warrants to the arranger of the Subscription. The warrants are exercisable at
a strike price of o.oo8 pence ("Warrants"), for an exercisable period of 5
years and have an expiry date of 29 January 2029.

After broker and dealing fees, the Company will receive net proceeds of
£232,279. The net proceeds from the Subscription will be used on pursuing new
projects and working capital requirements.

The Company has the authority to issue and allot the New Ordinary Shares
pursuant to certain existing shareholder authorities granting such powers to
the directors at the Company's General Meeting held on 31 October 2023.

Application has been made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM ('Admission') and it is expected that
such  Admission is expected to take place on or around 8.00 a.m. on 1
February 2024. The new ordinary shares, which will rank pari passu with the
Company's existing ordinary shares.

In accordance with the provision of the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority, the Company confirms that, following
the issue of the new Ordinary Shares, its issued ordinary share capital will
comprise 13,285,526,975 Ordinary shares. All of the Ordinary shares have equal
voting rights and none of the ordinary shares are held in Treasury. The total
number of voting rights in the Company will therefore be 13,285,526,975. The
above figure may be used by shareholders as the denominator for the
calculations to determine if they are required to notify their interests in,
or change to their interest in, the Company.

For further information please contact:

 Echo Energy                                            info@echoenergyplc.com

 Stephen Birrell, Chief Executive Officer
 Cavendish Capital Markets Limited (Nominated Adviser)  Tel: 44 (0)20 7220 0500

 Adrian Hadden

 Ben Jeynes

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation 596/2014 which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time. Upon the publication of this announcement, this inside information is
now considered to be in the public domain

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