We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.85 | 1.80 | 1.90 | 1.85 | 1.85 | 1.85 | 1,949 | 08:00:21 |
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 : 9509O
EQTEC PLC
23 May 2018
23 May 2018
EQTEC plc
("EQTEC" or the "Company")
Partial redemption of Unsecured Convertible Loan
EQTEC PLC (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that it is making a partial redemption of the Unsecured Convertible Loan Note ("UCLN") facility signed on 28 February 2018.
As stated in the announcement of 27 March 2018, the Company had ceased discussions with the investor of the UCLN (the "Investor") and their advisers for the redemption of existing amounts outstanding. The Company is pleased to announce that, following a resumption of discussions recently, it has now agreed with the Investor a partial redemption of the UCLN amounting to GBP157,500 to be paid immediately. This amount will be the initial payment ahead of the full redemption of the remainder of outstanding Unsecured Convertible Loan Notes. Additionally, the Investor has also agreed, on full redemption of the remaining UCLN, to give up any future or past equity rights in the Company in the form of warrants that were attached to the original UCLN.
The balance of the UCLN will be redeemed once final negotiations are completed between the Company and a new debt provider and a drawdown is made on the new facility. The facility under negotiation is a straight debt only facility which is expected to be drawn down in two tranches. The facility has been structured as straight debt to eliminate any dilutive effect for shareholders at the current share price.
The Company is also in discussion with its major shareholder EBIOSS Energy SE regarding further investment in the Company to execute the expansion of its business plan.
Progress on Projects
The Company has made solid progress in some of the requests for quotations on a range of near term projects both in the UK and overseas markets totalling more than 30 MW and awaits conclusion of assessments on others. The Company has also made good progress on the strategic alliances announced with COBRA and Rafako and joint meetings with prospective project owners have taken place adding 40 MW to the pipeline of projects under review.
As previously announced, the Company is also looking at the opportunity of becoming an owner operator of smaller energy gasification sites. Preliminary conversations have started with two owners to acquire a stake in the projects, the benefit of the acquisitions being the recurrent income derived from Operation & Maintenance works and the sale of energy.
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 Tom Price / Dugald J. Carlean +44 (0)20 3005 VSA Capital Limited - Joint Broker 5000 Andrew Monk / Andrew Raca +44 (0)20 7618 Luther Pendragon - Financial PR 9100 Harry Chathli / Alexis Gore / Ana Ribeiro
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.
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 rns@lseg.com or visit www.rns.com.
END
CONGMGZKZZLGRZZ
(END) Dow Jones Newswires
May 23, 2018 02:01 ET (06:01 GMT)
1 Year Eqtec Chart |
1 Month Eqtec Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions