Loan Note Conversion Notice

RNS Number : 3498P

EQTEC PLC

25 May 2018

 

25 May 2018

EQTEC plc

("EQTEC" or the "Company")

Loan Note Conversion Notice

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, received on 24 May 2018 a conversion notice pursuant to the Unsecured Loan Note Facility announced on 28 February 2018 for the principal amount of £100,000 to be converted at 0.3p per share into 33,333,333 new ordinary shares in the Company.

Upon issue, the new ordinary shares would comprise 2.29% of the enlarged issued share capital of the Company.

The Company has been notified by the Loan Note Investor that the current conversion took place to cover an existing open short position that the Investor had taken in the Company's shares and that it will allow sufficient time for the debt discussions noted in the announcement made by the Company dated 23 May to conclude, and during that period the Investor will not convert any further bonds or take any new short positions in the Company's share capital.

Application will be made for the admission to AIM of the new ordinary shares in accordance with the terms of the Loan Note agreement.   

Enquiries

EQTEC plc	[phone]
Luis Sanchez - Chief Executive Officer Gerry Madden - Finance Director
Northland Capital Partners Limited - Nomad and Joint Broker	[phone]
Tom Price / Dugald J. Carlean
SVS Securities Plc - Joint Broker	[phone]
Tom Curran / Ben Tadd
VSA Capital Limited - Joint Broker	[phone]
Andrew Monk / Andrew Raca
Luther Pendragon - Financial PR	[phone]
Harry Chathli / Alexis Gore / Ana Ribeiro

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

 

END

 

 

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