EQTEC PLC Director share subscription and share issue (3939F)
October 29 2018 - 3:00AM
UK Regulatory
TIDMEQT
RNS Number : 3939F
EQTEC PLC
29 October 2018
29 October 2018
EQTEC plc
("EQTEC" or the "Company")
Director share subscription and share issue
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, announces the following
subscription for new shares in the Company's ordinary shares of
EUR0.001 each ("Ordinary Shares") by certain Directors of the
Board. The Ordinary Shares were issued by the Company to the below
Directors at an issue price of 0.93 pence per Ordinary Share and
were allotted on 26 October 2018.
Ian Pearson, Chairman of EQTEC, commented:
"Following recent agreements, the Company is well capitalised
and is continuing to execute on its growth optimisation plan whilst
maintaining tight cost control. Today's subscription by the
Directors is a demonstration of our belief in the way the outcomes
of the Strategic Review recently completed by Ian Price as CEO are
being implemented as well as the execution of EQTEC's strategy
going forward."
Details of the shares allotted to Directors are set out
below:
Director Number of Ordinary Allotment Price Beneficial Total per cent.
Shares Allotted per Ordinary Interest following held after
Share the Purchase the issue
Ian Pearson
Non-Executive
Chairman 537,634 0.93 pence 537,634 0.03%
------------------- ---------------- -------------------- ----------------
Ian Price
Chief Executive
Officer 725,806 0.93 pence 725,806 0.04%
------------------- ---------------- -------------------- ----------------
Gerry Madden
Finance Director 569,677 0.93 pence 1,386,817 0.08%
------------------- ---------------- -------------------- ----------------
Tom Quigley
Non-Executive
Director 193,548 0.93 pence 193,548 0.01%
------------------- ---------------- -------------------- ----------------
Under the agreement with the Company's Joint Broker VSA Capital
Limited, advisor fees totaling GBP39,750 are to be converted into
4,274,194 Ordinary Shares in the Company at an issue price of 0.93
pence per share.
Application will be made for the admission to AIM of these
6,300,859 new ordinary shares and trading is expected to start on 2
November 2018.
Following admission, the Company will have a total of
1,804,744,243 Ordinary Shares in issue carrying voting rights. This
figure 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 Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
Enquiries
EQTEC plc +353 (0)21 2409 056
Ian Price - Chief Executive Officer
Gerry Madden - Finance Director
Northland Capital Partners Limited - Nomad
and Broker +44 (0)20 3861 6625
Tom Price / Dugald J. Carlean
Luther Pendragon - Financial PR +44 (0)20 7618 9100
Harry Chathli / Alexis Gore / Joe Quinlan
Notes to Editors
About EQTEC plc
EQTEC's business model involves sourcing and providing
assistance in developing waste elimination projects to which it
will ultimately sell its EQTEC Gasifier Technology ("EGT") and
O&M services. EGT enables project developers to construct waste
elimination plants and recover electrical and thermal energy from
the waste streams.
EQTEC sources projects that have a local supply of waste in need
of elimination and conversion. It builds relationships and brings
together the developers, the waste owners, the building contractors
and funders. It then supplies the energy recovery technology and
provides engineering services to the projects. Furthermore, EQTEC
will provide O&M services to the operating projects generating
recurring revenues over the life of the projects.
The Company is quoted on AIM and trades as EQT. Further
information on the Company can be found at www.eqtecplc.com
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail:
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
(Disclosure in relation to purchase of Ordinary Shares)
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name
* Ian Pearson - Non-Executive Chairman
* Ian Price - Chief Executive Officer
* Gerry Madden - Finance Director
* Tom Quigley - Non-Executive Director
-------------------------- --------------------------------------------------
2. Reason for the Notification
------------------------------------------------------------------------------
a) Position/status See 1(a) above for positions - all
Directors of the Company
-------------------------- --------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- --------------------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name EQTEC plc
-------------------------- --------------------------------------------------
b) LEI 63540085VSYVDEINJO04
-------------------------- --------------------------------------------------
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 Ordinary Shares of 0.001 cent
financial instrument,
type of instrument
Identification code IE00BH3XCL94
-------------------------- --------------------------------------------------
b) Nature of the transaction
* Ian Pearson - purchase of Ordinary Shares
* Ian Price - purchase of Ordinary Shares
* Gerry Madden - purchase of Ordinary Shares
* Tom Quigley - purchase of Ordinary Shares
-------------------------- --------------------------------------------------
c) Price(s) and volume(s) Ian Pearson: Price(s) Volume(s)
0.93 pence 537,634
----------
Ian Price: Price(s) Volume(s)
0.93 pence 725,806
----------
Gerry Madden: Price(s) Volume(s)
0.93 pence 569,677
----------
Tom Quigley: Price(s) Volume(s)
0.93 pence 193,548
----------
-------------------------- --------------------------------------------------
d) Aggregated information: See 4(c) above
* Aggregated volume
* Price
-------------------------- --------------------------------------------------
e) Date of the transaction 26 October 2018
-------------------------- --------------------------------------------------
f) Place of the transaction London Stock Exchange AIM
-------------------------- --------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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