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 | 1,343 | 08:00:03 |
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 : 2436X
EQTEC PLC
20 February 2017
20 February 2017
EQTEC plc
("EQTEC" or the "Company")
Placing, conversion of loan facility and appointment of Broker
EQTEC PLC (AIM: EQT), is pleased to announce that it has raised GBP500,000 (before expenses) through a placing of 10,000,000 new ordinary shares of EUR0.001 each in the capital of the Company ("Ordinary Shares") at 5.0 pence per share ("Placing Shares") (the "Placing").
EQTEC will use the proceeds from the Placing for working capital purposes and for continuing investment in its portfolio of projects.
In addition, the Company has also agreed with its major shareholder EBIOSS Energy AD ("EBIOSS") to convert an amount of EUR585,000 (GBP500,000) under the loan facility dated 8 January 2016, which was amended on 12 December 2016, into 10,000,000 new Ordinary Shares at a conversion price of 5.0 pence per share ("Conversion Shares") (the "Conversion"). Following the Conversion, principal of EUR283,000, excluding accrued interest, will be outstanding and a further EUR482,000 is still available to be drawn down under the loan facility.
EBIOSS currently has a 51 per cent. interest in the Company and therefore is deemed to be a related party of the Company under the AIM Rules for Companies ("AIM Rules"). Accordingly, the Conversion is deemed to be related party transaction pursuant to Rule 13 of the AIM Rules. The directors of the Company, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, consider that the terms of the Conversion are fair and reasonable insofar as the Company's shareholders are concerned.
Pursuant to the Placing and Conversion, application has been made for the admission of 20,000,000 new Ordinary Shares to trading on AIM ("Admission"). The new Ordinary Shares, which will be issued fully paid, will rank pari passu in all respects with the existing Ordinary Shares. Admission of the new Ordinary Shares to trading on AIM is expected to occur on 27 February 2017.
As a result of the Placing and Conversion, the total number of voting rights as at 27 February 2017 will increase to 173,350,494. Shareholders should use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure and Transparency Rules.
Following Admission, EBIOSS will be interested in 88,210,000 Ordinary Shares, equating to 50.89 per cent. of the then enlarged share capital of the Company.
In addition, the Company has appointed SVS Securities Plc as the Company's broker with immediate effect. Strand Hanson Limited will continue to be the Company's Nominated Adviser.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
For further information:
+353 (0)21 2409 EQTEC PLC 056 Gerry Madden / Brendan Halpin +44 (0)20 7409 Strand Hanson Limited - Nomad 3494 James Harris / Richard Tulloch / Ritchie Balmer +44 (0) 20 3700 SVS Securities Plc - Broker 0093 Tom Curran / Ben Tadd
About EQTEC:
EQTEC PLC is committed to operating clean electricity and heat generation plants in the UK and Ireland. The Company seeks to identify, build, own and operate clean energy projects and possesses significant knowledge of energy markets, clean technologies, fuel sources, project development, project finance and project delivery. EQTEC currently has four operational clean energy plants generating revenue from the sale of electricity and heat. The generation of clean electricity and heat from sustainable sources has the potential to address the key energy challenges of energy security and carbon commitment and provide strong returns on capital employed.
The Company is quoted on AIM and trades as EQT. Further information on EQTEC can be found at www.eqtecplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEEALAPFAEXEFF
(END) Dow Jones Newswires
February 20, 2017 02:00 ET (07:00 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