TIDMEQT
RNS Number : 1625A
EQTEC PLC
28 May 2021
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED
STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE
UNITED STATES OR THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA,
JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE UK VERSION OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU)
596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF EQTEC PLC.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
EQTEC plc
("EQTEC", the "Company" or the "Group")
PrimaryBid Offer
EQTEC plc (AIM: EQT) , a world leading gasification technology
solutions company for sustainable waste-to-energy projects , is
pleased to announce an offer for subscription via PrimaryBid (the
"PrimaryBid Offer") of up to 200,000,000 new ordinary shares of
EUR0.001 each in the Company ("PrimaryBid Shares") at an issue
price of 1.5 pence per PrimaryBid Share (the "Issue Price"), being
a discount of 11.24 per cent to the closing mid-price on 27 May
2021. As announced at 7.00am on 28 May 2021 , the Company is also
conducting a placing of new Ordinary Shares at the Issue Price by
way of an accelerated bookbuild process by (the "Placing") and a
direct subscription of new Ordinary Shares at the Issue Price (the
"Subscription").
The PrimaryBid Offer, the Placing and the Subscription
(together, the "Fundraising") are conditional on the new Ordinary
Shares to be issued pursuant to the Fundraising being admitted to
trading on AIM ("Admission") . Admission is expected to take place
at 8.00 a.m. on 3 June 2021 . The PrimaryBid Offer will not be
completed without the Placing also being completed.
It is expected that the Group will use the funds raised pursuant
to the Fundraising for :
1. Europe: acceleration of revenue growth in target markets.
This includes acquisition and recommissioning of specific plants in
target markets, including the recently announced revival of such a
plant in Italy, for delivery of biomass-to-energy solutions within
local communities, to showcase EQTEC technology capabilities and
performance and to accelerate interest and growth in those markets.
Additionally, establishment and funding of joint ventures with
local partners in target markets, for dedicated, local operations
to drive sales growth and delivery. Markets immediately targeted
for revenue growth include Greece, Croatia, Italy and Spain.
2. UK: securing and delivering UK RDF pipeline. This includes
capital investment in freehold land and full project rights for one
or more of the Company's major, RDF-to-energy projects in
Billingham, Deeside, Southport and other, similar opportunities in
the pipeline.
3. USA: formalising market entry. This includes pursuit of
existing opportunities in the Company's biomass-to-energy pipeline
in California, including formalising partnership agreements with
local partners and investing development capital in accelerated
pursuit of new deals.
4. Capability and capacity: extending our platform for growth.
This includes acquisition of additional engineering capability and
capacity to support concurrent delivery of multiple projects in
multiple geographies, as well as further growth of our business
development and partner management teams. Additionally, investment
in monitoring, measurement and data management technologies (e.g.,
industrial IoT) as part of EQTEC solutions, for remote management
and for growing our library of operational performance data.
PrimaryBid Offer
The Company values its existing retail investor base and is
therefore pleased to provide private and other investors the
opportunity to participate in the PrimaryBid Offer by applying
exclusively through the PrimaryBid mobile app available on the
Apple App Store and Google Play. PrimaryBid does not charge
investors any commission for this service.
The PrimaryBid Offer, via the PrimaryBid mobile app, will be
open to individual ( with existing shareholders prioritised if the
subscription is oversubscribed) and institutional investors from
7.01 a .m. on 28 May 2021 to 12 noon on 28 May 2021 . The
PrimaryBid Offer may close early if it is oversubscribed.
Subscribers for PrimaryBid shares will receive their shares on the
day following Admission.
Subscriptions under the PrimaryBid Offer will be considered by
the Company on a pro rata basis (with preference given to the
Company's existing retail investors), subject to conditions which
are available to view on PrimaryBid.
The Company, in consultation with PrimaryBid, reserves the right
to scale back any order at its discretion. The Company and
PrimaryBid reserve the right to reject any application for
subscription under the PrimaryBid Offer without giving any reason
for such rejection.
Aggregate demand under the PrimaryBid Offer will be limited to
GBP3,000,000 and, accordingly, the Company is not required to
prepare and has not prepared, a prospectus in respect of the
PrimaryBid Offer as it falls within the exemption set out in
section 86(1)(e) and section 86(4) of the Financial Services and
Markets Act 2000. The PrimaryBid Offer is not being made into any
Restricted Jurisdiction or any other jurisdiction where it would be
unlawful to do so.
There is a minimum subscription of GBP100 per investor under the
terms of the PrimaryBid Offer which is open to existing
shareholders and other investors subscribing via PrimaryBid.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for PrimaryBid Shares has
been made and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or email PrimaryBid at enquiries@primarybid.com. The terms and
conditions on which the PrimaryBid Offer is made, including the
procedure for application and payment for PrimaryBid Shares, is
available to all persons who register with PrimaryBid.
The PrimaryBid Shares will be issued free of all liens, charges
and encumbrances and will, when issued and fully paid, rank pari
passu in all respects with the Company's existing Ordinary
Shares.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for PrimaryBid Shares and
investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for PrimaryBid Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the PrimaryBid Shares
if they are in any doubt.
ENQUIRIES
EQTEC plc +353 21 2409 056
David Palumbo / Gerry Madden
-------------------------
Strand Hanson - Nomad & Financial Adviser +44 20 7409 3494
-------------------------
James Harris / James Dance
-------------------------
PrimaryBid Limited enquiries@primarybid.com
-------------------------
Charles Spencer / James Deal
-------------------------
Arden Partners - Joint Broker +44 20 7614 5900
-------------------------
Paul Shackleton (Corporate) / Simon Johnson
(Sales)
-------------------------
Canaccord Genuity - Joint Broker +44 20 7523 8000
-------------------------
Henry Fitzgerald-O'Connor / James Asensio
/ Patrick Dolaghan
-------------------------
Alma PR - Financial Media & Investor Relations +44 20 3405 0205
-------------------------
Josh Royston / Sam Modlin EQTEC @almapr.co.uk
-------------------------
+ 44 7554 014 188 / +
BECG - General Media Enquiries 44 7867 452 269
-------------------------
Carrie Lowe / Tom Gosschalk EQTEC @BECG.com
-------------------------
About EQTEC plc
As the world's leading experts in gasification for sustainable
waste-to-energy projects, EQTEC is building the future of the
sector, combining its technology innovation and engineering with
expert plant construction and project deliveries, to help drive the
global energy transition. EQTEC's proven, proprietary and patented
technology is at the centre of projects that aim to enhance local
communities and champion local businesses with an improved
environmental impact.
EQTEC designs and supplies advanced gasification solutions that
have a higher efficiency product offering and are modular and
scalable from 1MW to 30MW. EQTEC's versatile solutions are 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.
EQTECs 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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