Notice of EGM

RNS Number : 7391M

EQTEC PLC

25 January 2021

 

25 January 2021

EQTEC plc

("EQTEC", the "Company" or the "Group")

Notice of Extraordinary General Meeting

EQTEC plc (AIM: EQT), a world leading gasification technology solutions company for sustainable energy-from-waste projects, announces that an Extraordinary General Meeting of the Company will be held at the registered office of the Company at Building 1000, Citygate, Mahon, Cork, Ireland on Wednesday, 17 February 2021 at 10.00 a.m. (the "EGM").

The business of the EGM will be to consider and, if thought fit, approve certain resolutions (the "Resolutions") which are necessary to effect a technical change as to how, and where, the electronic settlement of trades in EQTEC's shares occurs.  The need for this technical change arises as a consequence of the United Kingdom's departure from the European Union ("Brexit") and it will not alter where EQTEC shares are quoted or traded.  The change affects all Irish companies whose securities are listed or quoted and traded on the London Stock Exchange and/or Euronext Dublin.

Background to the EGM

Trades in EQTEC's shares on AIM are currently settled via the CREST System, which is based in the UK. As a consequence of Brexit, the settlement system for trading in the Company's shares needs to move from CREST to Euroclear Bank in Belgium ("Migration"). Migration is expected to occur on 15 March 2021 as part of a market-wide migration of all Irish securities.

Approval of the Resolutions is necessary to enable the Migration of the Company's shares. There is no meaningful alternative to Migration and failure to migrate would remove the Company's access to electronic trade settlement. This would place the Company's ability to retain admission of its shares to trading on AIM and, importantly, a market for its ordinary shares, at material risk.  Therefore, the Board is recommending that all shareholders support the Resolutions proposed at the EGM by voting in favour of them or appointing a proxy to do so on their behalf. Details for how to vote are set out below.

A circular which includes the Notice of the EGM (the "Circular") and a Form of Proxy have been posted to shareholders today. The Board strongly urges shareholders to review the contents of the Circular in their entirety, including the documents referred to therein, and consider the Board's recommendation to vote in favour of the Resolutions.

The Circular, the Form of Proxy and copies of the documents referred to in the Circular are available to view on the Company's website at www.eqtec.com and will be available for inspection during normal business hours on any business day from the date of this announcement, until the EGM, at the registered office of the Company. However, due to COVID-19 public health guidelines, shareholders are strongly recommended to view the documents on the Company's website.

Public Health Guidelines and the EGM

The wellbeing of stakeholders, in particular our shareholders, colleagues and service providers, is a primary concern for the Board. Due to the ongoing restrictions on gatherings and travel, save for very limited purposes, under the regulations and the guidance issued by the Government of Ireland and the Department of Health in Ireland relating to COVID-19, the EGM will proceed under very constrained circumstances. It is expected that the EGM will only be able to proceed with the minimum number of shareholders required to establish a quorum, i.e. that at least three persons holding (or representing by proxy) at least one third in nominal value of the total issued share capital of the Company are in attendance.

Shareholders are therefore requested not to physically attend the EGM but instead to appoint a proxy to ensure they can vote and be represented without attending in person, and to ensure that there is a sufficient quorum present (in person or by proxy) for the EGM to validly proceed.

Voting

Proxy voting can be carried out in advance of the EGM by choosing one of the following options:

· by electronic means by accessing www.signalshares.com;

· by returning a Form of Proxy by post; or

· via the CREST System, where shares are held in CREST.

For further instructions on voting by proxy, shareholders should refer to the Form of Proxy and the notes to the Notice of EGM. Proxies must be received by no later than 10.00 a.m. on 15 February 2021.

If shareholders wish to listen live to the proceedings of the EGM, the Company will be providing a webcast facility, further details of which are set out in the Circular.

To facilitate secure webcast access to the EGM, the Company requires shareholders to request access by email to [e-mail], by close of business on 12 February 2021. Shareholders will still need to submit their Form of Proxy by the relevant deadline before the EGM as it will not be possible to vote using the webcast facility.

Shareholders may submit questions in advance of the EGM in writing by emailing questions to [e-mail] no later than 10.00 a.m. on 15 February 2021. All correspondence should include sufficient information to identify the shareholder on the Register of Members.

All resolutions at the EGM will be decided on a poll and the results will be published on the Company's website, www.eqtec.com, and via the Regulatory News Service, as soon as possible after the conclusion of the EGM.

Further information

The Company continues to monitor the impact of COVID-19 and any relevant updates regarding the EGM, including any changes to the arrangements outlined in the Circular, will be announced via the Regulatory News Service and will be available on the Company's website, www.eqtec.com .

In the event that it is not possible to hold the EGM either in compliance with public health guidelines or applicable law or where it is otherwise considered that proceeding with the EGM as planned poses an unacceptable health and safety risk, the EGM may be adjourned or postponed or relocated to a different time and/or venue, in which case notification of such adjournment or postponement or relocation will be given in accordance with applicable law.

ENQUIRIES

EQTEC plc	[phone]
David Palumbo / Gerry Madden
Strand Hanson - Nomad & Financial Adviser	[phone]
James Harris / James Dance / Jack Botros
Arden Partners - Broker	[phone]
Paul Shackleton (Corporate) / Simon Johnson (Sales)
Maitland/AMO - Communications & PR/IR adviser	[phone]
James Benjamin / Rhys Jones	[e-mail]

About EQTEC plc

EQTEC is a world leading advanced gasification technology partner with proven proprietary patented technology for sustainable waste - to -value applications.

EQTEC designs and supplies advanced gasification solutions that have a higher efficiency product offering and are modular and scalable from 1MW to 25MW. EQTEC's versatile solutions are independently proven to process over 50 different types of feedstock, including municipal waste, agricultural waste, biomass and plastics with no hazardous waste or toxic emissions . EQTEC's solutions produce a uniquely pure high-quality synthesis gas (syngas), that is capable of being used for the widest applications in the creation of energy , hydrogen and biofuels .

EQTEC's proprietary technology design together with deployment and maintenance capabilities mitigate the risks when using third party equipment. EQTEC's Technology Integration capabilities enable the Group to lead collaborative ecosystems that build sustainable, waste elimination and green energy infrastructure.

The Company is quoted on AIM (ticker: EQT) and the London Stock Exchange awarded EQTEC the Green Economy Mark that 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 .

 

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