Results of Placing and PrimaryBid Offer

RNS Number : 5718S

EQTEC PLC

09 July 2020

 

THIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

CERTAIN INFORMATION COMMUNICATED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 

9 July 2020

EQTEC plc

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

Results of Placing and PrimaryBid Offer

Directors' Dealings

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that, further to its announcement of 7.00 a.m. today, it has successfully completed the oversubscribed Fundraising which is now closed.

The Placing and PrimaryBid Offer has raised £10 million (before expenses) through the placing of 2,000,000,000 Placing Shares and subscription for 222,222,220 PrimaryBid Shares both at an Issue Price of 0.45 pence per share.

Directors' Dealings

The Company has now also issued the, in aggregate, 78,179,584 Director Remuneration Shares. Accordingly, on Admission (as defined below), the relevant Directors' interests will be as follows:

Director	No. of Director Remuneration Shares	Resultant holding of Ordinary Shares on Admission	Percentage of total voting rights on Admission
Thomas Quigley	10,909,091	26,254,154	0.38%
David Palumbo	23,454,545	23,659,090	0.34%
Gerry Madden	17,343,221	18,730,038	0.27%
Yoel Aleman	26,472,727	78,209,666	1.14%

Admission and Total Voting Rights

The Company will make an application to London Stock Exchange plc for the 2,608,936,059 New Shares to be admitted to trading on AIM ("Admission").  It is expected that Admission will become effective and dealings will commence on or around 15 July 2020.  The 2,608,936,059 New Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, there will be 6,868,712,306 Ordinary Shares in issue. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.

On Admission, following the issue of the Altair Conversion Shares, Altair will be interested in 1,373,424,441 Ordinary Shares, representing 20% of the Company's issued share capital.

David Palumbo, CEO of EQTEC, said:

"We are pleased to welcome many new leading blue-chip institutional shareholders to our share register through this oversubscribed institutional placing, and we are delighted by the support from our existing shareholders in the PrimaryBid offer. The Fundraising will enable the Company to capitalise on the positive momentum which it entered 2020 by utilising the proceeds of the fundraise to develop the Company's existing projects and strengthen its balance sheet."

Capitalised terms in this Announcement shall have the same meanings given to such terms in the Company ' s announcement of 7.00 a.m. today.

For further information, please contact:

EQTEC plc	[phone]
David Palumbo / Gerry Madden
Strand Hanson - Nomad & Financial Adviser	[phone]
James Harris / James Dance / Jack Botros
Arden Partners - Joint Broker	[phone]
Paul Shackleton (Corporate) / Fraser Marshall (Sales)
SI Capital Limited - J oint Broker	[phone]
Nick Emerson / Jon Levinson
IFC Advisory - Financial PR & IR	[phone]
Tim Metcalfe / Graham Herring / Zach Cohen

PDMR Notification Form :

The notification below is made in accordance with the requirements of the Market Abuse Regulation:

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1.  Thomas Quigley 2.  David Palumbo 3.  Gerry Madden 4.  Yoel Aleman
2.	Reason for the Notification
a)	Position/status	1.  NED 2.  CEO 3.  FD 4.  CTO
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 EUR0.001 each
	Identification code	IE00BH3XCL94
b)	Nature of the Transaction	Issue of shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.45 pence 1. 10,909,091 2. 23,454,545 3. 17,343,221 4. 26,472,727
d)	Aggregated information Aggregated volume Price	N/A (Single transaction)
e)	Date of the transaction	9 July 202 0
f)	Place of the transaction	AIM (LSE)

 

END

 

 

IOEUPUQGMUPUGGB