9 September 2024
EQTEC plc
("EQTEC",
the "Company" or the "Group")
Result of WRAP Retail
Offer
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 is pleased to announce, further to
the announcements of 4 September 2024 of the Fundraise, the
completion of the WRAP Retail Offer at the Issue Price. The WRAP
Retail Offer, which closed at 4:30 p.m. on Friday 6 September 2024,
has raised gross proceeds of £72,528.15 through the issue of a
total of 7,252,815 new Ordinary Shares to existing retail
shareholders in the United Kingdom.
The Fundraise, which is conditional
on Admission, has raised gross proceeds of, in aggregate,
£1,172,528.15 via the issue of 110,000,000 new Ordinary Shares
pursuant to the Placing and Subscription and 7,252,815 new Ordinary
Shares pursuant to the WRAP Retail Offer.
Use
of Proceeds
The net proceeds of the Fundraise,
along with the Company's existing cash resources, will be deployed
for general working capital purposes and to accelerate the
implementation of its strategy.
Admission of WRAP Retail Offer shares and Total Voting
Rights
Application is being made for the
7,252,815 new Ordinary Shares pursuant to the WRAP Retail Offer,
which will rank pari passu
with the existing Ordinary Shares, to be admitted to trading on AIM
("Admission"). It is
expected that Admission will become effective and dealings on AIM
is expected to commence on or around 13 September 2024.
On Admission of the 7,252,815 WRAP
Retail Offer Shares (together with the 110,000,000 Fundraise
Shares, 52,200,000 Conversion Shares and 7,711,059 Supplier Shares,
as announced on 4 September 2024), the Company's issued share
capital will consequently consist of 434,774,785 Ordinary Shares,
each with one voting right. There are no shares held in
treasury. Therefore, the Company's total number of Ordinary Shares
and voting rights will be 434,774,785 and this figure may be used
by shareholders following Admission as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the UK Financial Conduct Authority's Disclosure
Guidance and Transparency Rules.
Unless otherwise defined herein, all
defined terms used in this announcement shall have the meanings
ascribed to them in the Company's announcements of 4 September
2024.
ENQUIRIES
|
EQTEC plc
David Palumbo / Jeffrey Vander
Linden
|
+44 20 3883 7009
|
|
Strand Hanson - Nomad & Financial
Adviser
James Harris / Richard
Johnson
|
+44 20 7409 3494
|
|
Fortified Securities - Broker
Guy Wheatley
|
+44 20 3411 7773
|
|
Global Investment Strategy UK Ltd -
Broker
Samantha Esqulant
|
+44 20 7048 9045
|
|
Winterflood Retail Access
Platform
Andrew Stancliffe / Joe
Winkley
|
WRAP@winterflood.com
+44 20 3100 0000
|
About EQTEC
As one of the world's most
experienced thermochemical conversion technology and engineering
companies, EQTEC delivers waste management and new energy solutions
through best-in-class innovation and infrastructure engineering and
value-added services to owner-operators. EQTEC is one of only a few
technology providers directly addressing the challenge of replacing
fossil fuels for reliable, baseload energy. 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, specifies and
delivers clean, syngas production solutions in the USA, EU and UK,
with highly efficient equipment that is modular and scalable from
1MW to 30MW. EQTEC's versatile solutions process 60 varieties of
feedstock, including forestry waste, agricultural waste, industrial
waste 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 renewable 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 the London
Stock Exchange's Alternative Investment Market (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.