Eqtec Share Discussion Threads

[jumpenjim] 22/12/2023 09:09

Hi me55y

Technically speaking you have not lost £205 unless you sell today ! But if you hold on
to your 532 shares and they somehow manage to go back up in value you could be on a
Winner (sadly i doubt it very much) as the management has made a total shambles of this with numerous co,s taking over the helm then bailing after a short period it doesn't inspire confidence But if it,s any consolation to you i think many shareholders on here have lost ! sorry i,ll rephrase that are down thousands of £,s
on this i hope this helps

jumpenjim

[pa123] 22/12/2023 09:00

oh yes my friend, welcome to the scam that is Eqtec. We've all been shafted im afraid

[me55y] 21/12/2023 22:21

Hi everyone, sorry im very inexperienced with share dealing. Please can someone help, I bought these shares a long time ago at 0.4p each and bought 53200 for approx £220. Looking at whats gone on today it seems each share is now 3p and i only have 532 shares overall at a value of circa £16. Have i missed something or is it correct that iv effectivly lost £205?

Any help would be appreciated!

[cleverinvestor] 21/12/2023 20:53

vatnabreek

Sorted 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.

[vatnabrekk] 21/12/2023 17:17

What are you referring to as steps 1 and 2?

[cleverinvestor] 21/12/2023 16:35

juju44

Lol Should be straightforward but step 1 and 2 complicate the maths

[juju44] 21/12/2023 13:54

Easy .Thought you were clever

[cleverinvestor] 21/12/2023 13:15

what does 500,000 pre consolidation old shares equate to now guys?

At 100:1

i reckon 5,000 shares

Right or wrong?

[stevea171] 21/12/2023 12:12

Vatnabrekk. Further, the Italian Bank is not a charity. If it can't see evidence of the Italia MDC making a profit and being able to repay this loan with interest why would it advance the money in the first place? Surely they would want to see some months at the very least of improved running with accounts proving the operation is a profitable business?

DP is a complete shyster. Surely he can't con this well meaning Bank on top of shareholders and everyone else?

[vatnabrekk] 21/12/2023 11:46

Good questions Steve.

[stevea171] 21/12/2023 10:32

Here's another unquantified financial commitment you might have missed:

Italia MDC is on a site originally owned by Toscana Cereali Societa' Cooperativa Agricola, from whom Italia MDC is currently leasing and with whom Italia MDC have agreed to purchase the land by 30 July 2024.

It can be assumed The Italia MDC is in debt (hence the Bank loan), like EQT.
Where are the Accounts for this operation and exactly how much is the debt?
Where is it going to get any further funds in the next 6 months to purchase the land whilst making capital and interest payments to the Bank if the loan goes through?
If it can't complete, what penalties accrew?

How close to being bankrupt, like EQT, is the Italia MDC?

[skinny] 21/12/2023 09:15

I'm only 91% down here now!!

[juju44] 21/12/2023 08:48

Further delays and vague waffle . So nothing new there. How much have EQT lost on this shambles

[stevea171] 21/12/2023 08:44

The Italia MDC is in Tuscany. The Italian Bank in the North.

It's likely EQT has only just made some improvements which may or may not last so the Bank is in no hurry to visit the site. It would want to see proof ie a daily record of operational run time and output for a length of time of more than a few days!

[folderboy] 21/12/2023 07:03

From the RNS:

The Company can now confirm that it has successfully completed all performance improvements and achievement of performance criteria set by the Lender. The Lender has not been available to visit the Plant prior to the holiday period in December 2023, however it has now arranged to visit in early January 2024.

Just how remote is this place?!

[stevea171] 19/12/2023 19:31

Not so. The large scale dumping here is not done.

Another 50 million dumped near the end.

[talldarkslim] 19/12/2023 15:46

90% buys today

[losses] 19/12/2023 12:43

450 close would be cool.

[losses] 19/12/2023 12:35

Shares are worth nothing after this consolidation.

[paul8515] 19/12/2023 11:49

And we still have not been able to match our 3 year share price high.....

[juju44] 19/12/2023 10:06

It looks like they cant het it to work. Remember last Christmas - didnt work then either