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Share Name Share Symbol Market Type Share ISIN Share Description
Eqtec LSE:EQT London Ordinary Share IE00BH3XCL94 ORD EUR0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.55p +46.61% 1.73p 1.70p 1.76p 1.835p 1.165p 1.205p 124,322,398 16:27:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 0.0 -1.6 -0.0 - 31.22

EQTEC PLC Amendment to Loan Facility

11/01/2019 9:05am

UK Regulatory (RNS & others)

Eqtec (LSE:EQT)
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RNS Number : 8698M


11 January 2019

11 January 2019


("EQTEC" or the "Company")

Amendment to Loan Facility

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, is pleased to announce that it has executed final legal documentation to amend the existing secured loan facility initially entered into by the Company on 5 July 2018 (the "Loan Facility") with Cuart Investments Fund and associates (the "Lenders").

EQTEC has a number of significant near term opportunities and has therefore agreed to amend the Loan Facility in order to allow the Company to focus its financial resources on delivering projects within the pipeline in the near future.

On 3 October 2018 the Company and the Lenders agreed to amend the existing Loan Facility to increase the secure facility to up to US$10 million (approximately GBP7.6 million). The outstanding balance, at 5 January 2019, owed under the Loan Facility was US$3,228,000 of principal, plus accrued and unpaid interest thereon.

The Company, in order to pursue its opportunities and targets, has agreed with the Lenders to further amend the terms of the Loan Facility so that repayment amounts due pursuant to the Loan Facility after 5 January 2019 will now commence on 5 April 2019. As part of the amendment to the terms of the Loan Facility, a monthly fee of US$6,667 will be paid on the 5(th) day of each month beginning on 5 April 2019 for 15 months.

Payments of capital and interest due and outstanding under the Loan Facility on 5 January 2019 were US$486,893. As such, the Company has also agreed with the Lenders to make a minimum cash payment of US$100,000 of this balance by 31 January 2019 with the balance of US$386,893 being paid no later than 28 February 2019.

Ian Price, CEO of EQTEC plc, commented: "EQTEC currently finds itself presented with significant contract opportunities which we wish to capitalise on. This amendment to the Loan Facility will allow the Company to pursue our goal of generating revenue both through the execution of new and existing contracts ranging from EUR10m to EUR100m.

"The ongoing support of the Lenders along with other key stakeholders is a testament to their confidence in EQTEC's ability to execute its growth strategy. We look forward to providing shareholders with further updates as we seek to strengthen our position in the market."

Ian Pearson, Chairman of EQTEC plc, commented: "Evidence of rising demand for our technology and services continues to mount and we wish to ensure that we are well positioned to take advantage of this and other contract opportunities. To support these priorities, we have effected a significant improvement to our working capital position by amending the terms of the Loan Facility."

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.


 EQTEC plc                                     +353 (0)21 2409 056 
 Ian Price - Chief Executive Officer 
  Gerry Madden - Finance Director 
 Northland Capital Partners Limited - Nomad 
  and Broker                                   +44 (0)20 3861 6625 
 David Hignell/ Dugald J. Carlean 
 Luther Pendragon - Financial PR               +44 (0)20 7618 9100 
 Harry Chathli / Alexis Gore / Joe Quinlan 

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

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 or visit



(END) Dow Jones Newswires

January 11, 2019 04:05 ET (09:05 GMT)

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