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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eqtec Plc | LSE:EQT | London | Ordinary Share | IE000955MAJ1 | ORD EUR0.01 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 2.78% | 1.85 | 1.80 | 1.90 | 1.85 | 1.85 | 1.85 | 759,527 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electric Services | 7.97M | -10.53M | -0.0712 | -0.26 | 2.73M |
TIDMEQT
RNS Number : 3977A
EQTEC PLC
28 December 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Prior to its publication, certain information in this 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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(END) Dow Jones Newswires
December 28, 2017 02:00 ET (07:00 GMT)
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