TIDMEQT
RNS Number : 2593A
EQTEC PLC
28 May 2021
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF
AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF
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JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE
IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
This announcement contains inside information for the purposes
of the UK version of Article 7 of Regulation (EU) 596/2014. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
EQTEC plc
("EQTEC", the "Company" or the "Group")
Results of Placing, PrimaryBid Offer and Subscription
Directors' Dealings
EQTEC plc (AIM: EQT), a world leading gasification technology
solutions company for sustainable waste-to-energy projects,
announces the results of the Fundraising, further to its
announcements of 7.00 a.m. and 10.42 a.m. today.
The Fundraising was oversubscribed.
The Placing, the PrimaryBid Offer and the Subscription has
raised GBP16 million (before expenses) through the placing of
712,333,326 Placing Shares, subscription for 66,666,666 PrimaryBid
Shares and subscription for 287,666,664 Subscription Shares, in
each case at an Issue Price of 1.5 pence per share.
Capitalised terms used but not defined in this announcement
shall have the meaning given to them in the announcement at 7.00
a.m. today.
Related Party Transaction - Syngas Settlement
Dr. Yoel Alemán, CTO and a Director of the Company, has now
entered into the Syngas Settlement.
Accordingly, on Admission, following the issue of shares
pursuant to the Syngas Settlement, Yoel Alemán will be interested
in 170,791,970 Ordinary Shares, representing 2.0% of the Company's
issued share capital.
Related Party Transaction - Director participation in the
Subscription
Ian Pearson, Non-Executive Chairman and a Director of the
Company, has agreed to subscribe for 6,666,666 Subscription Shares
at the Issue Price . Ian Pearson is a related party as defined in
the AIM Rules. As a result, his participation in the Subscription
is a related party transaction pursuant to Rule 13 of the AIM
Rules. Accordingly, the independent directors of the Company (being
those directors other than Ian Pearson), having consulted with the
Company's Nominated Adviser, Strand Hanson Limited, consider the
terms of the issue to be fair and reasonable insofar as the
Company's shareholders are concerned.
On Admission, following the issue of the 6,666,666 Subscription
Shares, Ian Pearson will be interested in 7,204,300 Ordinary
Shares, representing 0.1% of the Company's issued share
capital.
Related Party Transaction - substantial shareholder
participation in the Subscription
Altair Group Investment Limited ("Altair") has an existing
holding of 1,487,424,441 Ordinary Shares in the Company
representing 20.6 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"). Altair has agreed to subscribe
for 146,666,666 Subscription Shares at the Issue Price . As a
result, their participation in the Subscription is a related party
transaction pursuant to Rule 13 of the AIM Rules. Accordingly, the
independent directors of the Company, having consulted with the
Company's Nominated Adviser, Strand Hanson Limited, consider the
terms of the issue to be fair and reasonable insofar as the
Company's shareholders are concerned.
On Admission, following the issue of the 146,666,666
Subscription Shares, Altair Group Investment Limited will be
interested in 1,634,091,107 Ordinary Shares, representing 19.4% of
the Company's issued share capital.
Admission and Total Voting Rights
The Company will make an application to London Stock Exchange
plc for an aggregate of 1,199,199,775 Ordinary Shares, comprising
712,333,326 Placing Shares, 66,666,666 PrimaryBid Shares,
287,666,664 Subscription Shares, 2,666,666 Supplier Shares,
82,982,304 Syngas Settlement Shares and 46,884,149 Warrant Shares
to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings will commence on or
around 3 June 2021. The New Shares will rank pari passu with the
existing Ordinary Shares.
Following Admission, there will be 8,435,044,926 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.
ENQUIRIES
EQTEC plc +353 21 2409 056
David Palumbo / Gerry Madden
---------------------------
Strand Hanson - Nomad & Financial Adviser +44 20 7409 3494
---------------------------
James Harris / James Dance
---------------------------
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 / +447867
BECG - General Media Enquiries 452 269
---------------------------
Carrie Lowe / Tom Gosschalk EQTEC @BECG.com
---------------------------
PDMR Notification Form :
The notification below is made in accordance with the
requirements of the Market Abuse Regulation:
1. Details of the person discharging managerial
responsibilities / person closely associated
a) Name 1. Ian Pearson
2. Yoel Alemán
------------------------------- ---------------------------------
2. Reason for the Notification
------------------------------------------------------------------
a) Position/status 1. Non-Executive Chairman
2. CTO
------------------------------- ---------------------------------
b) Initial notification/amendment Initial notification
------------------------------- ---------------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
------------------------------------------------------------------
a) Name EQTEC plc
------------------------------- ---------------------------------
b) LEI 63540085VSYVDEINJO04
------------------------------- ---------------------------------
4. Details of the transaction(s): section
to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv)each place where transactions
have been conducted
------------------------------------------------------------------
a) Description of the Financial Ordinary Shares of EUR0.001 each
instrument, type of
instrument
------------------------------- ---------------------------------
Identification code IE00BH3XCL94
------------------------------- ---------------------------------
b) Nature of the Transaction Issue of shares
------------------------------- ---------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1.5 pence 1. 6,666,666
2. 82,982,304
---------------
------------------------------- ---------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
------------------------------- ---------------------------------
e) Date of the transaction 28 May 2021
------------------------------- ---------------------------------
f) Place of the transaction AIM (LSE)
------------------------------- ---------------------------------
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END
ROIEALSPASNFEFA
(END) Dow Jones Newswires
May 28, 2021 11:01 ET (15:01 GMT)
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