EQTEC PLC Nomad Update, Loan & Director Declaration (1970O)
January 25 2019 - 1:16PM
UK Regulatory
TIDMEQT
RNS Number : 1970O
EQTEC PLC
25 January 2019
25 January 2019
EQTEC plc
("EQTEC" or the "Company")
Nomad Update, Loan, and Director Declaration
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, announces the following:
Consolidation of loans
On 22 January 2019 the Company and Altair Group Investment
Limited ("Altair") agreed to increase the loan facility available
for drawdown by GBP0.879 million to GBP3.5 million. Altair also
agreed to consolidate two loans between Altair and Ecofinance (GLI)
Limited ("Ecofinance) and EQTEC into one facility. In order to
facilitate the immediate drawdown of the GBP0.879 million, should
the Company choose to do so, the Company and Ecofinance have
entered into a Deed of Amendment to the existing Ecofinance loan
which increases this secured facility by GBP0.879 million to
GBP1.879 million on the same terms. This amended loan facility will
form part of the consolidation of the two Altair loans. A further
announcement will be made once the consolidation process is
completed.
Nomad update
The Company is pleased to confirm that it is finalising the
appointment of a new Nominated Adviser and looks forward to
concluding the appointment prior to 31 January 2019.
AIM Rule 17 Update
The Company also announces the following changes in information
in relation to Mr Oscar Leiva, a Non-Executive Director of EQTEC,
pursuant to AIM Rule 17 and Schedule Two, Paragraph (g) of the AIM
Rules for Companies:
Oscar Leiva was a director of Syngas Italy SARL until August
2018. Syngas Italy SARL entered voluntary liquidation in October
2018 and the liquidation process is ongoing.
Oscar Leiva was previously a director of Tnl equipamientos
ambientales SA resigning in September 2018. In November 2018, Tnl
equipamientos ambientales SA commenced insolvency proceedings,
which are still ongoing.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
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
David Hignell
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
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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