Director share subscription and share issue

RNS Number : 3939F

EQTEC PLC

29 October 2018

 

29 October 2018

EQTEC plc

("EQTEC" or the "Company")

Director share subscription and share issue

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces the following subscription for new shares in the Company's ordinary shares of €0.001 each ("Ordinary Shares") by certain Directors of the Board. The Ordinary Shares were issued by the Company to the below Directors at an issue price of 0.93 pence per Ordinary Share and were allotted on 26 October 2018.

Ian Pearson, Chairman of EQTEC, commented:

"Following recent agreements, the Company is well capitalised and is continuing to execute on its growth optimisation plan whilst maintaining tight cost control. Today's subscription by the Directors is a demonstration of our belief in the way the outcomes of the Strategic Review recently completed by Ian Price as CEO are being implemented as well as the execution of EQTEC's strategy going forward."

Details of the shares allotted to Directors are set out below:

Director	Number of Ordinary Shares Allotted	Allotment Price per Ordinary Share	Beneficial Interest following the Purchase	Total per cent. held after the issue
Ian Pearson Non-Executive Chairman	537,634	0.93 pence	537,634	0.03%
Ian Price Chief Executive Officer	725,806	0.93 pence	725,806	0.04%
Gerry Madden Finance Director	569,677	0.93 pence	1,386,817	0.08%
Tom Quigley Non-Executive Director	193,548	0.93 pence	193,548	0.01%

Under the agreement with the Company's Joint Broker VSA Capital Limited, advisor fees totaling £39,750 are to be converted into 4,274,194 Ordinary Shares in the Company at an issue price of 0.93 pence per share. 

Application will be made for the admission to AIM of these 6,300,859 new ordinary shares and trading is expected to start on 2 November 2018.

Following admission, the Company will have a total of 1,804,744,243 Ordinary Shares in issue carrying voting rights. This figure may be used by shareholders 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries

EQTEC plc	[phone]
Ian Price - Chief Executive Officer Gerry Madden - Finance Director
Northland Capital Partners Limited - Nomad and Broker	[phone]
Tom Price / Dugald J. Carlean
Luther Pendragon - Financial PR	[phone]
Harry Chathli / Alexis Gore / Joe Quinlan

Notes to Editors

About EQTEC plc

EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects to which it will ultimately sell its EQTEC Gasifier Technology ("EGT") and O&M services. EGT enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.

EQTEC sources projects that have a local supply of waste in need of elimination and conversion. It builds relationships and brings together the developers, the waste owners, the building contractors and funders. It then supplies the energy recovery technology and provides engineering services to the projects. Furthermore, EQTEC will provide O&M services to the operating projects generating recurring revenues over the life of the projects.

The Company is quoted on AIM and trades as EQT. Further information on the Company can be found at www.eqtecplc.com

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail:

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

(Disclosure in relation to purchase of Ordinary Shares)

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	-      Ian Pearson - Non-Executive Chairman -      Ian Price - Chief Executive Officer -      Gerry Madden - Finance Director -      Tom Quigley - Non-Executive Director
2.	Reason for the Notification
a)	Position/status	See 1(a) above for positions - all Directors of the Company
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 instrument, type of instrument	Ordinary Shares of 0.001 cent
	Identification code	IE00BH3XCL94
b)	Nature of the transaction	-      Ian Pearson - purchase of Ordinary Shares -      Ian Price - purchase of Ordinary Shares -      Gerry Madden - purchase of Ordinary Shares -      Tom Quigley - purchase of Ordinary Shares
c)	Price(s) and volume(s)	Ian Pearson: Price(s) Volume(s) 0.93 pence 537,634 Ian Price: Price(s) Volume(s) 0.93 pence 725,806 Gerry Madden: Price(s) Volume(s) 0.93 pence 569,677 Tom Quigley: Price(s) Volume(s) 0.93 pence 193,548
d)	Aggregated information: ·     Aggregated volume ·     Price	See 4(c) above
e)	Date of the transaction	26 October 2018
f)	Place of the transaction	London Stock Exchange AIM

 

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