EQTEC PLC Result of Broker Option (1080X)
April 21 2023 - 11:30AM
UK Regulatory
TIDMEQT
RNS Number : 1080X
EQTEC PLC
21 April 2023
21 April 2023
EQTEC plc
("EQTEC", the "Company" or the "Group")
Result of Broker Option
EQTEC plc (AIM: EQT), a global technology innovator powering
distributed, decarbonised, new energy infrastructure through its
waste-to-value solutions for hydrogen, biofuels, and energy
generation announces that, further to the announcements made on 21
March 2023 and 4 April 2023, the broker option, a facility to allow
existing shareholders to participate in the fundraise on same terms
to the placing announced on 21 March 2023 in which the Company
raised GBP3.5 million before expenses (the "Placing") (the "Broker
Option"), is now closed.
The Company will therefore issue 1,105,828 units ("Units")
pursuant to the Broker Option at 0.22 pence per Unit, the same
price as the Placing, conditional only on Admission. Each Unit
comprises one new ordinary share of EUR0.001 each in the Company
("Ordinary Share") and one half of one Ordinary Share purchase
warrant ("Warrant"). Each full Warrant is exercisable at 0.33 pence
per new Ordinary Share. The Warrants are unlisted. Each new
Ordinary Share will rank pari passu with existing Ordinary
Shares.
Admission
Application will be made to the London Stock Exchange for the
1,105,828 new Ordinary Shares to be admitted to trading on AIM.
Dealings in the new Ordinary Shares, which will rank pari passu
with the Company's existing Ordinary Shares, are expected to
commence at 8.00 a.m. on or around 28 April 2023.
Following Admission, there will be 11,528,254,001 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
David Palumbo / Nauman Babar +44 20 3883 7009
Strand Hanson - Nomad & Financial
Adviser
James Harris / Richard Johnson +44 20 7409 3494
Panmure Gordon - Broker
John Prior / Hugh Rich +44 20 7886 2500
Instinctif - Media & investor EQTEC@instinctif.com
relations enquiries +44 791 717 8920 / +44 788
Guy Scarborough / Tim Field 788 4794
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014, as it
forms part of United Kingdom domestic law by virtue of the European
Union (Withdrawal) Act 2018, as amended, and has been announced in
accordance with the Company's obligations under Article 17 of that
Regulation.
About EQTEC plc
As one of the world's most experienced gasification technology
and engineering companies, with a growing track record of
delivering operational and commercial success for transforming
waste-to-energy through best-in-class technology innovation,
engineering and project development, EQTEC brings together design
innovation, project delivery discipline and solid commercial
experience to add momentum to the global energy transition. EQTEC's
proven, proprietary and patented technology is at the centre of
clean energy projects, sourcing local waste, championing local
businesses, creating local jobs and supporting the transition to
localised, decentralised and resilient energy systems.
EQTEC designs, supplies and builds advanced gasification
facilities in the UK, EU and US, with highly efficient equipment
that is modular and scalable from 1MW to 30MW. EQTEC's versatile
solutions process over 50 varieties of feedstock, including
forestry wood waste, vegetation and other agricultural waste from
farmers, industrial waste and sludge from factories and municipal
waste, all with no hazardous or toxic emissions. EQTEC's solutions
produce a pure, high-quality synthesis gas ("syngas") that can be
used for the widest range of applications, including the generation
of electricity and heat, production of synthetic natural gas
(through methanation) or biofuels (through Fischer-Tropsch,
gas-to-liquid processing) and reforming of hydrogen.
EQTEC's technology integration capabilities enable the Group to
lead collaborative ecosystems of qualified partners and to build
sustainable waste reduction and green energy infrastructure around
the world.
The Company is quoted on AIM (ticker: EQT) and the London Stock
Exchange has awarded EQTEC the Green Economy Mark, which 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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END
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