TIDMEQT
RNS Number : 7358D
EQTEC PLC
23 June 2023
23 June 2023
EQTEC plc
("EQTEC", the "Company" or the "Group")
Grant of Long-term Incentive Plan Options
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, on 23 June 2023, its Board of Directors
approved the award of options over a total of 753,802,555 ordinary
shares of EUR0.001 each in the Company ("Ordinary Shares") under
the EQTEC All Employee Long-term Incentive Plan, launched in 2021
(the "Options") (the "LTIP").
The number of Options awarded under the LTIP represent the
maximum total share options available to employees of the Company
on the basis of 2023 performance against vesting conditions set
annually in line with the Company's annual performance targets.
Awards have been calculated by reference to a price of 0.25p, being
a 39% premium to the closing share price of 22 June 2023. Subject
to vesting conditions of the LTIP, which include personal
commitment (40%) and Company performance conditions (60%), up to
one-third of the Options shall vest each year, commencing on the
first anniversary of award. The LTIP awards represent a significant
portion of executive remuneration linked with the performance of
the Company. Pursuant to the terms of the LTIP, the Options are
exercisable at EUR0.001 each, being the nominal value of an
Ordinary Share.
Included within the total 753,802,555 options awards for 2023
("Awards") are the following to directors of the Company as part of
their annual remuneration and incentivisation packages:
Director Options granted in 2023 under
the LTIP
David Palumbo 135,000,000
------------------------------
Jeffrey Vander
Linden 135,000,000
------------------------------
Nauman Babar 105,000,000
------------------------------
Yoel Alemán 92,820,000
------------------------------
The objective of the LTIP is to continue to progress individual
and team performance in line with Company performance, thereby
creating value for shareholders while minimising cash outlay. All
Company executive directors and employees are eligible to
participate in the LTIP as part of a broader all-company
remuneration strategy and the scheme allows all employees to
participate in the long-term success of the Company.
Following these grants, the Company has, in aggregate,
1,281,640,323 warrants and options in effect under existing
incentive schemes.
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
----------------------------
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
.
PDMR Notification
The notifications below are made in accordance with the
requirements of UK MAR:
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Palumbo
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director (CEO)
-------------------------------- -----------------------------------------
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 N/A
-------------------------------- -----------------------------------------
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 EUR 0.001 each
instrument, type of instrument
-------------------------------- -----------------------------------------
Identification code
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of LTIP options subject to vesting
conditions
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
EUR0.001(exercise
price) 135,000,000
------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 23 June 2023
-------------------------------- -----------------------------------------
f) Place of the transaction AIM (LSE)
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jeffrey Vander Linden
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director (COO)
-------------------------------- -----------------------------------------
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 N/A
-------------------------------- -----------------------------------------
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 EUR 0.001 each
instrument, type of instrument
-------------------------------- -----------------------------------------
Identification code
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of LTIP options subject to vesting
conditions
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
EUR0.001(exercise
price) 135,000,000
------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 23 June 2023
-------------------------------- -----------------------------------------
f) Place of the transaction AIM (LSE)
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Nauman Babar
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director (CFO)
-------------------------------- -----------------------------------------
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 N/A
-------------------------------- -----------------------------------------
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 EUR 0.001 each
instrument, type of instrument
-------------------------------- -----------------------------------------
Identification code
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of LTIP options subject to vesting
conditions
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
EUR0.001(exercise
price) 105,000,000
------------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 23 June 2023
-------------------------------- -----------------------------------------
f) Place of the transaction AIM (LSE)
-------------------------------- -----------------------------------------
1. Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Dr. Yoel S. Alemán Méndez
-------------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------------
a) Position/status Director (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 N/A
-------------------------------- -----------------------------------------
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 EUR 0.001 each
instrument, type of instrument
-------------------------------- -----------------------------------------
Identification code
-------------------------------- -----------------------------------------
b) Nature of the Transaction Grant of LTIP options subject to vesting
conditions
-------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
EUR0.001(exercise
price) 92,820,000
-----------
-------------------------------- -----------------------------------------
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
-------------------------------- -----------------------------------------
e) Date of the transaction 23 June 2023
-------------------------------- -----------------------------------------
f) Place of the transaction AIM (LSE)
-------------------------------- -----------------------------------------
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END
DSHFJMPTMTJTMAJ
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