Issue of shares to Loan Facility Provider

RNS Number : 1801A

EQTEC PLC

24 May 2019

 

24 May 2019

EQTEC plc

("EQTEC" or the "Company")

Issue of shares to Loan Facility Provider

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that the Company has today issued 33,767,588 new ordinary shares of €0.001 each ("Ordinary Shares") to Cuart Investments Fund and associates (the "Lenders") in settlement of US$300,362 of principal and accrued interest due in May under the loan facility with the Lenders as announced on 5 July 2018 and as amended as announced on 3 October 2018 and 11 January 2019 (the "Loan Facility").

Following settlement of the above amount, the outstanding principal owed under the Loan Facility is now US$2,262,848, which, together with interest due, will be repaid in varying monthly instalments, with the final balance being paid in June 2020.

Application will be made for the admission to AIM of these 33,767,588 new Ordinary Shares and trading is expected to start on 30 May 2019.

Following admission, the Company will have a total of 2,004,316,746 Ordinary Shares in issue carrying voting rights.  The Company does not hold any Ordinary Shares in treasury.  Therefore, with effect from admission, 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.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Enquiries

EQTEC plc	[phone]
Ian Price - Chief Executive Officer Gerry Madden - Finance Director
Strand Hanson - Nomad, Financial Adviser & Broker	[phone]
James Harris / Richard Tulloch / Jack Botros
IFC Advisory - Financial PR & IR	[phone]
Tim Metcalfe / Miles Nolan / Zach Cohen

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.

 

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