EQTEC PLC Completion of Acquisition and Admission (3977A)
28 December 2017 - 6:00PM
UK Regulatory
TIDMEQT
RNS Number : 3977A
EQTEC PLC
28 December 2017
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PART, DIRECTLY OR INDIRECTLY IN OR INTO ANY JURISDICTION WHERE TO
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JURISDICTION.
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announcement was deemed to constitute inside information for the
purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.
28 December 2017
EQTEC plc
("EQTEC", the "Company" or the "Group")
Completion of Acquisition
Admission of the Enlarged Share Capital to trading on AIM
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, is pleased to announce the
admission of its Enlarged Share Capital to trading on AIM following
the acquisition of Eqtec Iberia SL, an engineering company
specialising in the design, construction, operation and maintenance
of power plants. Dealings will commence in its ordinary shares at
8.00 a.m. today on AIM.
Highlights:
-- The market capitalisation of the Enlarged Group on
re-Admission will be GBP33.7 million, based on the closing price of
2.5p on 27 December 2017
-- In addition to the Acquisition, the Company has raised GBP1.6
million (before expenses) by the issue of 246,153,847 Ordinary
Shares ("Placing Shares") at 0.65 pence to fund the working capital
needs of the Enlarged Group and the continued development of its
near-term pipeline
-- Following Admission of the Enlarged Share Capital, the
Company has 1,346,090,838 Ordinary Shares in issue
-- The Placing Shares represent 18.3 per cent. of the Enlarged
Share Capital on Admission and rank pari passu in all respects with
the Existing Ordinary Shares, including the right to receive future
dividends and other distributions declared, made or paid in respect
of the Ordinary Shares
Luis Sanchez, Chief Executive Officer of EQTEC, said: "Today
marks a milestone in EQTEC's development and is a transformational
step for the Company in refocusing its strategy into the
energy-from-waste market in the UK and Europe. With our patented
gasification technology, a strong pipeline of projects and
relationships with some of the global market leaders in the energy
sector, the Board believes EQTEC is well positioned to become a
leading player in creating electricity by converting waste into
synthetic gas."
Further information provided under AIM Rule 26 and the Company's
AIM Admission Document can be found at: www.eqtecplc.com
Enquiries
+353 (0)21 2409
EQTEC plc 056
Luis Sanchez - Chief Executive Officer
Gerry Madden - Finance Director
Northland Capital Partners Limited +44 (0)20 3861
- Nomad and Joint Broker 6625
Dugald J. Carlean / Tom Price
+44 (0)20 3700
SVS Securities Plc - Joint Broker 0093
Tom Curran / Ben Tadd
VSA Capital Limited - Financial +44 (0)20 3005
Adviser and Joint Broker 5000
Andrew Monk / Andrew Raca
+44 (0)20 7618
Luther Pendragon - Financial PR 9100
Harry Chathli / Alexis Gore / Ana
Ribeiro
Notes to Editors
About EQTEC plc
EQTEC's business model will involve 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 converting the waste into electrical and thermal
energy. The high energy efficiency also provides project developers
with a competitive advantage allowing them to quote more
competitive gate fees for the waste supply.
EQTEC will source projects that have a local supply of waste in
need of conversion. It will build relationships and bring together
the developers, the waste owners, the building contractors and
funders and provide the technology and engineering services to the
projects. Furthermore, the Enlarged Group 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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