TIDMEQT
RNS Number : 8070R
EQTEC PLC
05 March 2019
EQTEC plc
("EQTEC" or the "Company")
Holdings(s) in Company and Exercise of warrants
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, announces a number of transactions
in the Company's ordinary shares of EUR0.001 each ("Ordinary
Shares"), including the exercise of warrants, pursuant to which the
Company has received gross proceeds of GBP1,459,546. As a result of
these transactions, the shareholding of Altair Group Investment
Limited ("Altair") in the Company will increase from 137,868,580
Ordinary Shares to 164,532,102 Ordinary Shares.
Holding(s) in the Company
The Company has been notified by Altair that, on 4 March 2019,
it sold 136,363,636, Ordinary Shares, including 15,528,000 Ordinary
Shares held by Ecofinance (GLI) Limited ("Ecofinance"), a wholly
owned subsidiary of Altair. Following the disposal, Altair is now
interested in, in aggregate, 1,504,944 Ordinary Shares,
representing approximately 0.08% of the Company's current issued
share capital.
Exercise of warrants
In addition, on 4 March 2019, the Company received a notice of
exercise from Altair in respect of warrants over 105,263,158
Ordinary Shares at a price of 0.975 pence per share and further
notices of exercise from each of Altair and Ecofinance in respect
of warrants over 50,000,000 Ordinary Shares and 7,764,000 Ordinary
Shares respectively at a price of 0.75 pence per share. The
aggregate gross proceeds of these exercises amount to
GBP1,459,546.
These warrants were issued in 2017 and 2018 and represent the
full exercise of the warrants issued to both Altair and
Ecofinance.
Admission, Total Voting Rights and Resulting Interest
The Company will make an application for the 163,027,158 new
Ordinary Shares, to be issued and allotted as a result of the
warrant exercises set out above, to be admitted to trading on AIM
("Admission"). Admission is expected to occur at 8.00 a.m. on 13
March 2019. The 163,027,158 new Ordinary Shares will rank pari
passu with the existing Ordinary Shares.
The Company has agreed with Altair and Ecofinance that the new
Ordinary Shares to be issued to them following the exercise of the
warrants will be, from the date of Admission, subject to a lock in
period for 90 days and an orderly market agreement for a further 90
days. Such agreements will be entered into prior to Admission.
Following Admission, there will be 1,967,771,381 Ordinary Shares
in issue. This number may be used by shareholders as the
denominator for the calculation by which they will determine if
they are required to notify their interest in, or a change in their
interest in, the share capital of the Company.
On Admission, Altair, will be interested in, in aggregate,
164,532,102 Ordinary Shares, representing approximately 8.36% of
the Company's then enlarged issued share capital.
Ian Price CEO of EQTEC commented:
"EQTEC currently has access to several potential funding routes
including venture debt facilities, loans and equity. The ongoing
support from our long-term investors demonstrates their confidence
in our business model and enable us to further maximize shareholder
value through the potential delivery of contracts ranging from
EUR10-100m.
With the high level of demand in the Waste to Energy Sector,
this funding places the Company in a stronger position to
capitalize on these opportunities and accelerate the growth of the
business."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
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
Enquiries
EQTEC plc +353 (0)21 2409 056
Ian Price - Chief Executive
Officer
Gerry Madden - Finance Director
=====================
Strand Hanson - Nomad, Financial
Adviser & Broker +44 (0) 207 409 3494
=====================
James Harris/Richard Tulloch/Jack
Botros
=====================
IFC Advisory - Financial PR +44 (0) 203 934 6632
=====================
Graham Herring / Tim Metcalfe
=====================
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END
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