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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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.85 | 93,343 | 08:00:21 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1.80 | 1.90 | 1.85 | 1.85 | 1.85 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Electric Services | EUR 7.97M | EUR -10.53M | EUR -0.0712 | -0.26 | 2.73M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 13:05:37 | O | 11,968 | 1.86 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 19/4/2024 | 14:18 | ALNC |  IN BRIEF: Eqtec and Verde agree to amendment of subscription letter |
| 19/4/2024 | 07:45 | UK RNS | EQTEC PLC Update on Verde Corporation Subscription |
| 05/4/2024 | 10:13 | UK RNS | EQTEC PLC Holding(s) in Company |
| 03/4/2024 | 16:35 | ALNC | IN BRIEF: Eqtec shares surge as reaches settlement with Logik |
| 03/4/2024 | 15:09 | UK RNS | EQTEC PLC Settlement Agreement with Logik Developments |
| 02/4/2024 | 19:02 | ALNC | TRADING UPDATES: Roadside shares suspended; Adnams looks for funds |
| 02/4/2024 | 07:00 | UK RNS | EQTEC PLC Update on Verde Corporation Subscription |
| 11/3/2024 | 11:59 | ALNC | Eqtec says completion of subscription postponed due to delayed funding |
| 11/3/2024 | 07:00 | UK RNS | EQTEC PLC Update on Verde Corporation Subscription |
| 29/2/2024 | 07:17 | UK RNS | EQTEC PLC Update on Initial Subscription |
Eqtec (EQT) Share Charts1 Year Eqtec Chart |
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1 Month Eqtec Chart |
Intraday Eqtec Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 21/4/2024 | 20:27 | EQT: A green revolution (waste gasification to energy) | 4,997 |
| 16/1/2024 | 13:33 | Eqtec:lots in the pipeline, just someone needs to turn the tap on | 222 |
| 15/2/2023 | 07:36 | DANGER SCAM LIAR LOL | 70 |
| 01/11/2021 | 16:25 | EQTEC - Waste Gasification to Energy | 3,927 |
| 04/7/2021 | 08:40 | EQTEC PLC synthetic gas power generation plants 2020 | 46 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 12:05:38 | 1.86 | 11,968 | 222.60 | O |
| 12:03:59 | 1.82 | 7,613 | 138.56 | O |
| 11:58:42 | 1.82 | 2,922 | 53.18 | O |
| 11:58:33 | 1.87 | 12,946 | 241.57 | O |
| 11:55:45 | 1.82 | 2,000 | 36.40 | O |
| Top Posts |
|---|
Posted at 25/4/2024 09:20 by Eqtec Daily Update Eqtec Plc is listed in the Electric Services sector of the London Stock Exchange with ticker EQT. The last closing price for Eqtec was 1.85p.Eqtec currently has 147,832,044 shares in issue. The market capitalisation of Eqtec is £2,734,893. Eqtec has a price to earnings ratio (PE ratio) of -0.26. This morning EQT shares opened at 1.85p |
Posted at 04/4/2024 13:52 by marktime1231 Answering my own question this is an extract from the Dec 2020 notice about Eqtec acquiring the Deeside development SPV from Logik ...• Initial consideration of £2,310,000 of which a deposit amount of £300,000, from which the existing exclusivity payment of £100,000 will be deducted, is payable on signing of the SPA and the balance of £2,010,000 payable on or before a date 12 months from the date of signing of the SPA (and which sum shall be netted off the existing debts of the Project SPV). So EQT are recouping about 45% of its "investment" if it receives £2M from Logik when they sell the freehold. And lets not assume that the transaction will be settled smoothly given the history of fraught relations with Logik. As has been observed the good news is not for shareholders, this prospect just continues to line the pockets of the executive who have destroyed value. |
Posted at 15/2/2024 21:10 by cleverinvestor Simply Wall St websiteFeb 14 New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €11m Forecast net loss in 3 years: €597k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Market cap is less than US$10m (UK£4.81m market cap, or US$6.04m). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (€597k net loss in 3 years). |
Posted at 13/2/2024 16:20 by cleverinvestor Today's dilution was totally expected.Shareholder dilution was flagged by Simply Wall Street Jan 02 New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 111% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€8.5m free cash flow). Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Market cap is less than US$10m (UK£4.54m market cap, or US$5.73m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Some way to go before they turn the corners. As the saying goes trend is your friend. Markets sentiments are based on expectations |
Posted at 21/12/2023 20:53 by cleverinvestor vatnabreekSorted now! To answer your question RNS -24th Nov 2023 mentioned 3 inter-conditional steps "The Capital Reorganisation will involve the following three inter-conditional steps: (1) the subdivision of existing Ordinary Shares; (2) the consolidation of the resulting Ordinary Shares; and (3) the redesignation of certain of the remaining Ordinary Shares. (1) Ordinary Share Subdivision The current nominal value of each of the existing Ordinary Shares is EUR0.001. Pursuant to the proposed subdivision, each existing Ordinary Share would be subdivided into 10 Ordinary Shares of EUR0.0001, from the time at which the Resolution in respect of the subdivision becomes effective (which will be immediately prior to the Ordinary Share Consolidation and Redesignation). (2) Ordinary Share Consolidation Immediately after the subdivision of the Ordinary Shares every 1,000 (one thousand) subdivided Ordinary Shares of EUR0.0001 each will be consolidated into 10 (ten) Ordinary Shares of EUR0.01 each (3) Redesignation Immediately after the Ordinary Share Consolidation 9 (nine) out of every 10 Ordinary Shares of EUR0.01 each will be redesignated into 9 (nine) deferred C ordinary shares of EUR0.01 each ("2023 Deferred Shares"). Shareholders should note that, except for the increase in nominal value of each Ordinary Share, the voting and dividend rights attaching to the New Ordinary Shares arising on the Capital Reorganisation will be identical in all respects to those attaching to the existing Ordinary Shares at the date of this document. The 2023 Deferred Shares will have no economic value and will carry the rights as set out in the Amended Articles and as summarised below. If the Capital Reorganisation is approved, the New Ordinary Shares will be admitted to trading on AIM on 19 December 2023. |
Posted at 18/12/2023 16:11 by skinny From the RNS on 24th November :-at 20 November 2023, being the latest practicable Business Day prior to the date of this document). The Capital Reorganisation will involve the following three inter-conditional steps: (1) the subdivision of existing Ordinary Shares; (2) the consolidation of the resulting Ordinary Shares; and (3) the redesignation of certain of the remaining Ordinary Shares. (1) Ordinary Share Subdivision The current nominal value of each of the existing Ordinary Shares is EUR0.001. Pursuant to the proposed subdivision, each existing Ordinary Share would be subdivided into 10 Ordinary Shares of EUR0.0001, from the time at which the Resolution in respect of the subdivision becomes effective (which will be immediately prior to the Ordinary Share Consolidation and Redesignation). (2) Ordinary Share Consolidation Immediately after the subdivision of the Ordinary Shares every 1,000 (one thousand) subdivided Ordinary Shares of EUR0.0001 each will be consolidated into 10 (ten) Ordinary Shares of EUR0.01 each (3) Redesignation Immediately after the Ordinary Share Consolidation 9 (nine) out of every 10 Ordinary Shares of EUR0.01 each will be redesignated into 9 (nine) deferred C ordinary shares of EUR0.01 each ("2023 Deferred Shares"). Shareholders should note that, except for the increase in nominal value of each Ordinary Share, the voting and dividend rights attaching to the New Ordinary Shares arising on the Capital Reorganisation will be identical in all respects to those attaching to the existing Ordinary Shares at the date of this document. The 2023 Deferred Shares will have no economic value and will carry the rights as set out in the Amended Articles and as summarised below. If the Capital Reorganisation is approved, the New Ordinary Shares will be admitted to trading on AIM on 19 December 2023. Steps 1 & 2 seem simple enough, so for 1000 shares now :- 1000 ----> 10,000 ----> 100 I'm not sure I totally understand step 3! |
Posted at 12/12/2023 09:47 by stevea171 Refi. The Italia MDC saga looks like its going to the wire.EQT deadlines are never met. Italia MDC deadlines are never met eg 4/9. "a series of performance improvements anticipated to be completed in early Q4 2023" 6/11. "is implementing a series of performance improvements which are anticipated to be completed in Q4 2023" So on past form the most likely next announcement will be to continue to push out the date into next year and beyond the end of this financial year. Note in the September announcement "supporting Italia MDC in its endeavours to drive more productive and continual operations." This is a clear reference to the stop/start nature of the plant's operations that has been reported independently by a poster on LSE with a contact working there. This reduces productivity and likely leads to loss making operations which necessitates this Bank loan of EU2.9 million to cover losses incurred to date and tech remediation. EQT won't say what are the implications for North Fork or Larissa or any other plant of current design. EQT is on the edge of both the finances and tech letting it down with company closure not too far away if the tech at Italia MDC is not remedied. 4/9/23. Provision of funds through the Facility is subject to the Plant's achievement of certain performance criteria set by the Lender. Supported by EQTEC engineers, EQTEC Italia MDC S.r.l. ("Italia MDC"), the operating company for the Plant, is implementing a series of performance improvements anticipated to be completed in early Q4 2023, at which point, assuming the required performance criteria have been achieved, Italia MDC will draw down the amount of the full Facility. The Plant became operational in March 2023 and EQTEC completed handover protocols and transfer of plant operations to Italia MDC in June 2023. The Company remains actively involved with supporting Italia MDC in its endeavours to drive more productive and continual operations. |
Posted at 21/9/2023 18:37 by stevea171 This court action by EQT will be defended and could take 6-12 months to be heard?A statement from Logik Developments said: “At present, no such claim has been served on either Logik Developments Limited or Logik WTE Limited and we cannot, therefore, comment on the precise nature of EQTEC’s claim. “It is correct that we have been in discussions with EQTEC in recent months about their alleged claims and such discussions have been conducted through legal channels via our respective solicitors. “We note from EQTEC’s announcement that the total amount claimed is circa £4m. This is surprising to us given that all pre-action correspondence to date has been limited in value to claims amounting to circa £2.9m. It therefore appears that EQTEC have acted prematurely in issuing Court proceedings against Logik in circumstances where they have not provided any details about the balance of their alleged claim (totaling £1.1m) as they are specifically required to do as part of any legal process before Court proceedings are issued.” The statement added: “We refute EQTEC’s allegations entirely and in the event that any claim is served on Logik, this will be defended to the fullest extent. “We also note that EQTEC claim that they have made numerous attempts to engage with us towards a resolution of these matters more recently through legal counsel. EQTEC also claim that we have rejected invitations to work through the issues constructively or failed to follow through on an agreement to meet with them. “This is, quite simply, incorrect and as part of the recent correspondence passing between our respective solicitors, it was actually us who offered to meet with EQTEC’s representatives to try and engage in commercial discussions with them in an attempt to resolve matters; however no response at all has been received from EQTEC or their solicitors to this offer of a meeting and that was where matters stood prior to EQTEC’s recent announcement that it has issued a claim against Logik. “In the event that EQTEC consider that they have a claim against Logik for any alleged breach of the SPA or the Deeside Project, then that is a matter for them and this will present them with a damages claim; however, as explained, we refute EQTEC’s allegations entirely and consider that there is no legal basis to their claims. We will have no hesitation in defending our position through the Courts if that is what is ultimately required.” |
Posted at 04/9/2023 15:30 by stevea171 Today's RNS headlines:EQTEC PLC Bank Refinance of Italy Market Development Centre MetalNRG PLC Bank Refinance of Italy waste to energy plant Are these not 2 cases of misleading/lying headlines? We understood there was to be a refi allowing the original investors incl EQT (20%) to take some or all of their capital out and easing their cash flow problems. But we find out in the text that none of this is happening. Instead the Italia MDC has been offered a loan of EU2.9 million under certain conditions which may or may not be fulfilled in Q4 with Eqtec, the company, getting nothing. How much debt has the MDC racked up already (financed by EQT?) to be included in H1 results and FY results? It is expected that the loan requirement in Q4 will be EU2.9 million as this full amount is to be drawn down immediately and an EQT bridging loan? repaid. These will be the estimated losses and capex of the Italia MDC to the date of the loan draw down. Is EQT expecting another cash raise to cover this loan to the MDC in the next 3 months and not telling us as usual with all the other cash raises/loans in the past 18 months or so? This is yet another MAJOR screw up that has been hidden up to now with only a glimpse of disclosure in this RNS. |
Posted at 04/9/2023 12:11 by marktime1231 Despite the catty squabbling here, which I think is because Steve has about-faced from being stubbornly argumentatively defensively cloth-eared positive to negative, this rns does reveal that Italy MDC is not operating as intended. To be fair to Steve being positive became unsustainable and you are allowed to change your mind on the evidence, but as someone who was once on the receiving end of his snap I can understand it might grate on those who were suspicious all along. And on those who now are desperate for a revival, to be so negative all the time apparently long after divesting. At least we are getting a critical analysis of the bilge coming out of EQT pr team and what it really means. But, on balance, if that France funding is realised then EQTs future is brighter but then it could hardly have got any worse. Anyway ..."EQTEC Italia MDC S.r.l. ("Italia MDC"), the operating company for the Plant, is implementing a series of performance improvements anticipated to be completed in early Q4 2023, at which point, assuming the required performance criteria have been achieved, Italia MDC will draw down the amount of the full Facility. The Plant became operational in March 2023 and EQTEC completed handover protocols and transfer of plant operations to Italia MDC in June 2023. The Company remains actively involved with supporting Italia MDC in its endeavours to drive more productive and continual operations." The key word here is "continual". It doesn't work as a steady continuous automated process, there are interuptions or interventions necessary which means staff time which means unbudgeted costs. So Italy MDC might operate technically fine only in discrete batches, not according to the business plan, and will indeed be loss-making. It has been my guess all along that this involves the feedstock end of the process, or it could be residue glazing and contamination in the fluidised bed, something which has baffled every other group trying to integrate waste gasification plant, and something which has taken four or more years to try and resolve rather than the 1 year envisioned here. It would have been helpful to have provided some operating detail ... waste processed, net energy exported etc ... versus target. And financials, so revenues and costs against tonnes and kWh, in the kind of way material processors and energy companies give updates. I guess they are still working on how to report, not having had anything to say until now. No mention of the opportunity to sell off the black soot residue. I do not understand the financial consequence of this announcement on EQT itself. Someone in the meantime needs to be providing Italy MDC with operating cash flow, is that what EQT mean when they say they are providing support. And in the meantime presumably EQT is not receiving proceeds from a financial close or net income, clobbering the outlook. Given the parlous state of EQT and the rate at which it spends cash do we have another going concern and funding problem, or is that saved by the promise of funds from France? |
Posted at 01/8/2023 11:47 by mathieson84 From user TB on telegram (not me)....... Reply from Jeff. There is a little sleight of hand on the bit about shares issued due to low cap, but I'm generally pretty happy with the reply. Below: Hi, Tom. Thanks for your thoughtful note. I am pleased you attended the AGM. Did you attend in a group (as your note suggests you took the read of a number of people)? That would be very interesting! Regarding the LTIP, I fear there may again considerable misunderstanding and misinformation about this. Please consider: (1) We initiated this programme in 2021, as a replacement for arbitrary, unpredictable grants of warrants, etc., and we have granted no additional warrants to directors or employees since 2020; (2) the LTIP, which we reviewed and refined with PwC and our Nomad, is based on best practices applied at more mature companies to attract the right kind of talent and drive a culture of ownership, rather than employee-ship; (3) the amount of the grant is not arbitrary--it is based on remuneration figures set by contract with every employee--clearly, when the share price is low this has a disproportionate impact on the number of shares issued; (4) the numbers we announced are absolute maximum--to truly give out those share options, we would have to significantly outperform our targets for the year; in past years, we have not even hit target, never mind outperformed it; (5) the strike price should be a small premium--our advisors questioned why the relatively large premium and it was we Directors who insisted on sending the message that we should be well above the recent Placing price (last year's grant was also well above what advisors recommended); and (6) the timing was also not arbitrary--we could not do an April/May grant as we would have liked, as we needed to pass the AGM first, so we issued the grant afterward. The implications of these points seem to me to be: (1) shareholders should see this approach as allowing EQTEC to retain ONLY people willing to put their remuneration at risk to performance (and esp. in the case of Directors) and to have a portion of their remuneration payable in EQTEC shares--that should attract entrepreneurs, not desk-job employees; (2) shareholders should see this as a predictable, annual grant--no surprises with warrants or other vehicles practiced previously by EQTEC and often by other small companies; (3) shareholders should understand that we do not receive anywhere near full reward unless the company is receiving considerable reward--as I said in the AGM, we received zero of the performance-based component of the LTIP for 2022, as we were too far under target. What we must announce to the Market is set--not by us, but by regulation; but the reality of remuneration at EQTEC is that we are not thriving unless the company thrives. What I see people speculating about (and what the various AI engines publish) about our remuneration is laughable. I am making much less than I was making before EQTEC or could make in another company....but why would I? The future is bright for EQTEC and the process of building a company around our superior technology is a mission worth pursuing. I understand that shareholders do not have perfect information, nor is it possible for us to try to share that, but shareholders must disentangle two issues: trust in the management and EQTEC's remuneration model. The latter is standardised, mathematical and best practice (meaning more mature and professionalised than most other companies practice); the former is a matter of shareholder sentiment. If shareholders truly believe the EQTEC business strategy is misguided, that the Company is on the wrong track and that we Directors are plundering the Company's coffers for personal gain, then I would expect them to push very hard to have us exited quickly. But for what it's worth, we work seven days a week, through our own family holidays and with strong capability and dedication to EQTEC's success. |
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