EQTEC PLC Appointment of Nominated Adviser & Joint Broker (9999T)
October 18 2017 - 10:45AM
UK Regulatory
TIDMEQT
RNS Number : 9999T
EQTEC PLC
18 October 2017
("EQTEC", "Company")
Appointment of Nominated Adviser and Joint broker
18 October 2017
EQTEC PLC (AIM: EQT) the technology solution company for waste
gasification to energy projects is pleased to announce the
appointment of Northland Capital Partners Limited as Nominated
Adviser and Joint Broker to the Company with immediate effect.
This is further to the Exchange's announcement of 10 October
2017 and the Company's announcement of the 11 October 2017
regarding the pending removal of ZAI Corporate Finance Limited from
the register of nominated advisers. Given the particular
circumstances, the Exchange has agreed that Northland has until 5pm
19 December 2017 to finalise its due diligence and provide all
relevant nominated adviser confirmations to the Exchange.
As announced on 17 July 2017, the Company has entered into Heads
of Terms with Inava Ingenieria de Analisis and the Company's
majority shareholder EBIOSS Energy SE ("the Sellers") pursuant to
which the Company will acquire the entire issued shares capital of
EQTEC Iberia SL ("EQTEC Iberia"). As the transaction will
constitute a reverse takeover under the AIM Rules, trading in the
Ordinary Shares of the Company was suspended from 7.30 am on 17
July 2017 until publication of the Admission Document or
confirmation is given that the proposed transaction is no longer
proceeding. Northland is currently undertaking due diligence on
both the Company and on EQTEC Iberia with the intention of
publishing the Admission Document and seeking re-admission of the
Ordinary shares in due course. Furthermore, the board of the
Company confirms that the Sellers have provided an extension to the
exclusivity period to 31 December 2017 to complete negotiations
with the Sellers.
There can be no guarantee that Northland will be able to
conclude satisfactorily its due diligence by 5pm on 19 December
2017 or provide the relevant declaration to the Exchange. If
Northland is unable to conclude satisfactorily its due diligence it
will resign as the Company's nominated adviser and the Company's
AIM securities will be suspended (or remain suspended subject to
the status of the proposed transaction referred to above). In the
event that Northland did resign in such circumstances, in
accordance with AIM Rule 1, should the Company fail to appoint a
new nominated adviser within one month from the date of such
resignation admission of its AIM securities will be cancelled.
Notwithstanding the extension of time provided in respect of due
diligence obligations at engagement, Northland will continue to be
subject to all the ongoing nominated adviser responsibilities under
the AIM Rules for Nominated Advisers.
A further update will be made in due course.
Enquiries
EQTEC PLC +353(0)21 2409 056
Gerry Madden / Brendan Halpin
Northland Capital Partners Limited +44 (0) 203 861 6625
Nominated Adviser
Tom Price / Dugald J. Carlean
VSA Capital +44(0) 20 3005 5000
Andrew Monk / Andrew Raca
Financial PR +44(0) 20 7618 9100
Luther Pendragon
Harry Chathli / Ana Ribeiro /
Alexis Gore
This information is provided by RNS
The company news service from the London Stock Exchange
END
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