EQTEC PLC New Unsecured Loan Facility and Riverfort Facility (3997K)
January 04 2021 - 2:29AM
UK Regulatory
TIDMEQT
RNS Number : 3997K
EQTEC PLC
04 January 2021
4 January 2021
EQTEC plc
("EQTEC", the "Company" or the "Group")
New Unsecured Loan Facility and Full Redemption Riverfort
Facility
EQTEC plc (AIM: EQT), a world leading gasification technology
solutions company for sustainable waste-to-energy projects, is
pleased to announce that it has agreed an unsecured term loan
facility of GBP1.25 million (the "Loan Facility") with Altair Group
Investment Limited ("Altair"), a substantial shareholder in the
Company.
The Loan Facility is for a term of 12 months and the principal
and any accrued interest are repayable in full on 31 December 2021
but the company can repay the loan early without penalty. The Loan
Facility is unsecured and has a coupon of 6% per annum, payable
quarterly in arrears. The Loan Facility will be used to pay all
sums due to the "Riverfort Lenders" (being, collectively, Riverfort
Global Opportunities PCC Ltd and YA II PN, Ltd) in full and final
settlement of amounts owed to them, releasing and discharging any
secured assets and obligations under any previous agreements with
the Riverfort Lenders.
Related party transaction
Altair has an existing holding of 1,373,424,441 Ordinary Shares
in the Company representing 19.66 per cent. of the Company's issued
share capital and, as such, is a substantial shareholder as defined
in the AIM Rules for Companies ("AIM Rules"). As a result, entry
into the Loan Facility with Altair is a related party transaction
pursuant to Rule 13 of the AIM Rules. Accordingly, the directors of
the Company, having consulted with the Company's Nominated Adviser,
Strand Hanson Limited, consider the terms of the Loan Facility to
be fair and reasonable insofar as the Company's shareholders are
concerned.
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation.
ENQUIRIES
EQTEC plc +353 21 2409 056
David Palumbo / Gerry Madden
------------------------------
Strand Hanson - Nomad & Financial Adviser +44 20 7409 3494
------------------------------
James Harris / James Dance / Jack Botros
------------------------------
Arden Partners - Broker +44 20 7614 5900
------------------------------
Paul Shackleton (Corporate) / Simon Johnson
(Sales)
------------------------------
Maitland/AMO - Strategic Communications &
PR/IR adviser +44 20 7379 5151
------------------------------
James Benjamin James.benjamin@maitland.co.uk
------------------------------
About EQTEC plc
EQTEC is a world leading advanced gasification technology
partner with proven proprietary patented technology for
waste-to-value applications.
EQTEC designs and supplies advanced gasification solutions that
have a higher efficiency product offering and are modular and
scalable from 1MW to 25MW. EQTEC's versatile solutions are
independently proven to process over 50 different types of
feedstock, including municipal waste, agricultural waste, biomass
and plastics with no hazardous waste or toxic emissions . EQTEC's
solutions produce a uniquely pure high-quality synthesis gas
(syngas), that is capable of being used for the widest applications
in the creation of energy, hydrogen and biofuels.
Proprietary technology design together with deployment and
maintenance capabilities mitigate the risks when using third party
equipment. EQTEC's Technology Integration capabilities enable the
Group to lead collaborative ecosystems that build sustainable,
waste elimination and green energy infrastructure.
The Company is quoted on AIM (ticker: EQT) and the London Stock
Exchange awarded EQTEC the Green Economy Mark that recognises
listed companies with 50% or more of revenues from
environmental/green solutions.
Further information on the Company can be found at
www.eqtec.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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAXFLEASFEEA
(END) Dow Jones Newswires
January 04, 2021 02:29 ET (07:29 GMT)
Eqtec (LSE:EQT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Eqtec (LSE:EQT)
Historical Stock Chart
From Jul 2023 to Jul 2024