EQTEC PLC Exercise of warrants & TVR (6045Q)
March 01 2021 - 2:00AM
UK Regulatory
TIDMEQT
RNS Number : 6045Q
EQTEC PLC
01 March 2021
1 March 2021
EQTEC plc
("EQTEC", the "Company" or the "Group")
Exercise of warrants
Total Voting Rights
EQTEC plc (AIM: EQT), a world leading gasification technology
solutions company for sustainable waste-to-energy projects,
announces the exercise of certain warrants to subscribe for new
ordinary shares in the Company ("New Ordinary Shares").
Exercise of warrants
The Notice to exercise the warrants was received from Altair
Group Investment Limited ("Altair"), the Company's 19.36%
shareholder. Warrants over 114,000,000 New Ordinary Shares at a
price of 0.25 pence per share have been exercised by Altair. The
aggregate gross proceeds of the exercise receivable by the Company
amounts to GBP285,000. These warrants were issued as part of the
equity fundraise completed by the Company on 2 December 2019 and
represent a full exercise of the remaining warrants issued to
Altair as a result of their equity subscription at that time.
Use of proceeds
It is intended that the proceeds from the exercise of the
warrants will be used to repay a portion of the GBP1,250,000 loan
drawn down by the Company from Altair, announced on 4 January 2021.
Following the repayment of GBP285,000 the loan balance together
with accrued interest will amount to GBP976,096.
Admission and total voting rights
The Company will make an application to the London Stock
Exchange plc for the 114,000,000 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"). It is expected that
Admission will become effective and dealings will commence on or
around 4 March 2021. The 114,000,000 New Ordinary Shares will rank
pari passu with the existing Ordinary Shares.
Following Admission, there will be 7,207,912,190 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.
Following Admission, Altair will be interested in, in aggregate,
1,487,424,441 Ordinary Shares representing
20.64 per cent. of the Company's issued share capital as enlarged.
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 - Communications & PR/IR
adviser +44 20 7379 5151
------------------------------
James Benjamin / Rhys Jones EQTEC-maitland@maitland.co.uk
------------------------------
About EQTEC plc
EQTEC is a world leading gasification technology partner with
proven proprietary patented technology for sustainable
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.
EQTEC's 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
.
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