Update on Unsecured Convertible Loan Note Facility

RNS Number : 9750H

EQTEC PLC

16 March 2018

 

16 March 2018

EQTEC plc

("EQTEC" or the "Company")

Update on Unsecured Convertible Loan Note Facility

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that further to the statement of 28 February 2018, the Board of Directors has decided not to proceed with any further draw down amounts under the Unsecured Convertible Loan Note Facility Agreement of up to £7.5 million ("Loan Notes").  

In addition, the Company has agreed in principle, and is in preliminary discussions with the investor and the Company's advisers, to cancel the Loan Note Agreement, and for the redemption of existing amounts outstanding at the earliest opportunity. 

A further announcement will be made in due course as appropriate.

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 - Financial Adviser and 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.

 

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