TIDMEQT
RNS Number : 0790S
EQTEC PLC
12 March 2021
12 March 2021
EQTEC plc
("EQTEC", the "Company" or the "Group")
Update on migration of uncertificated shares from CREST to the
Euroclear Bank system
EQTEC plc (AIM: EQT), a world leading gasification technology
solutions company for sustainable waste-to-energy projects,
provides the following update in relation to the migration of Irish
corporate securities from CREST to Euroclear Bank ("Migration")
under the Migration of Participating Securities Act 2019 ("2019
Act").
EQTEC confirms that it has taken all necessary steps in
connection with the proposed Migration of the electronic holding
and settlement of its shares from the CREST system to the Euroclear
Bank system.
Migration is expected to take effect on Monday, 15 March 2021,
alongside the migration to Euroclear Bank of the holding and
settlement of the securities of all Irish companies with securities
that are listed and traded in Dublin and/or London.
Migration
As previously announced, at the extraordinary general meeting of
the Company held on 17 February 2021 (the "EGM") shareholders
approved Migration and authorised the Board to take all steps
necessary to implement it.
In accordance with the terms of the Migration of Participating
Securities Act 2019 and these authorities, the Company has
consented to Migration and has made the requisite notifications to
the Irish Companies Registration Office and Euronext Dublin.
Accordingly, all steps required to be taken by the Company to give
effect to the Migration have now been completed.
Timetable for the Migration
Euronext Dublin announced on 8 March 2021 that Market Migration
remains scheduled to occur over the weekend of 12-15 March 2021, in
line with the indicative timetable that was included in the
Company's circular to Shareholders in relation to the EGM dated 25
January 2021 (the "EGM Circular"). Euronext Dublin has advised that
the 'live date' on which Migration is to take effect is 15 March
2021.
Euronext Dublin maintains a dedicated web page relating to
Market Migration (on which details of the timetable and other
relevant details can be found) at the following link:
https://www.euronext.com/en/migration-csd-services-for-irish-securities-crest-euroclear-bank
Actions to be taken by EQTEC shareholders
For EQTEC shareholders who hold their shares in paper form (i.e.
outside of CREST and in "certificated" form) there will be no
change to what is owned and how it is held. Therefore, the impact
of the Migration on such shareholders is expected to be minimal and
no immediate action is required.
For EQTEC shareholders who hold their shares through CREST (in
uncertificated form), the Migration will result in changes to what
is technically owned, how the interest is held, and how rights
related to the shares will be exercised. Details of those changes
are set out in the EGM Circular. Specifically:
-- Retail shareholders who hold their shares electronically in
CREST - through a broker, custodian or nominee - will continue to
hold their interest through that broker, custodian or nominee, as a
CREST Depository Interest or (assuming the broker, custodian or
nominee is or becomes a participant in the Euroclear System in the
way they are in CREST) as a Belgian Law Right in the Euroclear
System.
-- Institutional shareholders who hold their Shares
electronically in CREST directly in their own name (i.e. as a CREST
member), will continue to be able to hold their interests in shares
directly in their own name as a CREST Depository Interest or
(provided they become a participant in the Euroclear Bank system)
as a Belgian Law Right in the Euroclear Bank system. Where such
shareholders wish to hold their interests in shares via the
Euroclear Bank system but are not or do not become a Euroclear Bank
participant, they will need to enter into an arrangement with a
broker, custodian or nominee who is a participant, so that they can
hold the relevant interest for them.
If they have not done so already, EQTEC shareholders holding
their shares in CREST are strongly encouraged to consult with their
stockbroker or other intermediary at the earliest opportunity. The
Migration will result in a significant change in both the form and
nature of shareholding in the Company, and the substance of, and
manner in which, rights can be exercised. In particular, Migration
will result in important changes to the processes and timelines for
submitting proxy voting instructions for the Company's AGM, which
will be held later this year. Shareholders should familiarise
themselves with the new processes and timelines, and ensure all
necessary actions have been taken on their part and by their
stockbroker or other intermediary, to ensure they can continue to
enjoy their rights as an EQTEC shareholder in the context of the
new Euroclear system.
Important notes
Unless the context otherwise required, defined terms used in
this announcement have the meanings given to them in the EGM
Circular.
ENQUIRIES
EQTEC plc +353 21 2409 056
David Palumbo / Gerry Madden
------------------------------
Strand Hanson - Nomad & Financial
Adviser +44 20 7409 3494
------------------------------
James Harris / James Dance / Jack
Botros
------------------------------
Arden Partners - Broker +44 20 7614 5900
------------------------------
Paul Shackleton (Corporate) / Simon
Johnson (Sales)
------------------------------
Maitland/AMO - Communications & PR/IR
adviser +44 20 7379 5151
------------------------------
James Benjamin / Rhys Jones EQTEC-maitland@maitland.co.uk
------------------------------
About EQTEC plc
As the world's leading experts in gasification for sustainable
waste-to-energy projects, EQTEC is building the future of the
sector, combining its technology innovation and engineering with
expert plant construction and project deliveries, to help drive the
global energy transition. EQTEC's proven, proprietary and patented
technology is at the centre of projects that aim to enhance local
communities and champion local businesses with an improved
environmental impact.
EQTEC designs and supplies advanced gasification solutions that
have a higher efficiency product offering and are modular and
scalable from 1MW to 30MW. EQTEC's versatile solutions are
independently proven to process over 50 different types of
feedstock, including municipal waste, agricultural waste, biomass
and plastics with no hazardous waste or toxic emissions . EQTEC's
solutions produce a uniquely pure high-quality synthesis gas
(syngas), that is capable of being used for the widest applications
in the creation of energy, hydrogen and biofuels.
EQTEC's proprietary technology design together with deployment
and maintenance capabilities mitigate the risks when using third
party equipment. EQTEC's Technology Integration capabilities enable
the Group to lead collaborative ecosystems that build sustainable
waste elimination and green energy infrastructure.
The Company is quoted on AIM (ticker: EQT) and the London Stock
Exchange awarded EQTEC the Green Economy Mark that recognises
listed companies with 50% or more of revenues from
environmental/green solutions.
Further information on the Company can be found at www.eqtec.com
.
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