EQTEC PLC Issue of shares to Loan Facility Provider (1801A)
May 24 2019 - 8:51AM
UK Regulatory
TIDMEQT
RNS Number : 1801A
EQTEC PLC
24 May 2019
24 May 2019
EQTEC plc
("EQTEC" or the "Company")
Issue of shares to Loan Facility Provider
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, announces that the Company has
today issued 33,767,588 new ordinary shares of EUR0.001 each
("Ordinary Shares") to Cuart Investments Fund and associates (the
"Lenders") in settlement of US$300,362 of principal and accrued
interest due in May under the loan facility with the Lenders as
announced on 5 July 2018 and as amended as announced on 3 October
2018 and 11 January 2019 (the "Loan Facility").
Following settlement of the above amount, the outstanding
principal owed under the Loan Facility is now US$2,262,848, which,
together with interest due, will be repaid in varying monthly
instalments, with the final balance being paid in June 2020.
Application will be made for the admission to AIM of these
33,767,588 new Ordinary Shares and trading is expected to start on
30 May 2019.
Following admission, the Company will have a total of
2,004,316,746 Ordinary Shares in issue carrying voting rights. The
Company does not hold any Ordinary Shares in treasury. Therefore,
with effect from admission, this figure may be used by shareholders
as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in the Company, under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries
EQTEC plc +353 (0)21 2409 056
Ian Price - Chief Executive Officer
Gerry Madden - Finance Director
Strand Hanson - Nomad, Financial
Adviser & Broker +44 (0) 20 7409 3494
James Harris / Richard Tulloch /
Jack Botros
IFC Advisory - Financial PR & IR +44 (0) 20 3934 6630
Tim Metcalfe / Miles Nolan / Zach
Cohen
Notes to Editors
About EQTEC plc
EQTEC's business model involves 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 and recover electrical and thermal energy from
the waste streams.
EQTEC sources projects that have a local supply of waste in need
of elimination and conversion. It builds relationships and brings
together the developers, the waste owners, the building contractors
and funders. It then supplies the energy recovery technology and
provides engineering services to the projects. Furthermore, EQTEC
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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