EQTEC PLC Appointment of Nominated Adviser & Joint Broker (9999T)

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                                                           [phone] 

Gerry Madden / Brendan Halpin

   Northland Capital Partners Limited         [phone] 

Nominated Adviser

Tom Price / Dugald J. Carlean

   VSA Capital                                                        [phone] 

Andrew Monk / Andrew Raca

   Financial PR                                                       [phone] 

Luther Pendragon

Harry Chathli / Ana Ribeiro /

Alexis Gore

This information is provided by RNS

The company news service from the London Stock Exchange

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October 18, 2017 11:45 ET (15:45 GMT)