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#AST: Board changes and new strategy for Ascent as Hutchinson looks at new projects
EXCLUSIVE: Petro Matad announce fully funded 4 well Mongolia campaign

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Member Since: Tue, 11th Jul 2017

Number of Share Chat Posts (all time): 129
Number of Share Chat Posts (last 30 days): 20

Last Posted: Fri 20:26

Post Distribution over the last 30 days

Fri 20:26

From a previous RNS

On the Conversion Date, Origen will be granted with warrants to subscribe for 95,833,333 Ordinary Shares at an exercise price of 0.75p per share, exercisable for two years from the date of grant.


Capitalisation of interest


The Company has also entered into arrangements with Altair and Ecofinance to capitalise interest payments due to them under existing debt facilities. The Company and Altair have agreed that £600,000 of interest payable to Altair pursuant to the convertible loan note instrument dated 14 July 2015 (as amended) for the period of 1 July 2017 to 30 June 2019 may be satisfied by the issue of 100,000,000 Ordinary Shares at 0.6 pence per share. Further, Ecofinance has agreed with the Company that interest of £93,168 payable under the secured loan agreement dated 14 July 2015 (as amended) may be satisfied by the issue of 15,528,000 Ordinary Shares at 0.6 pence per share. These arrangements have also been structured as unsecured loans on the same terms as Origen with automatic conversions on the Conversion Date.


On the Conversion Date, Altair and Ecofinance will be granted with warrants over 50,000,000 Ordinary Shares and 7,764,000 Ordinary Shares respectively with an exercise price of 0.75 pence per share exercisable for two years from the date of grant.
Fri 18:52

Glad I sold a chunk on contract award rather than listen to constraint drivel which has been promising the moon while probably just day trading. These shares are indeed flying a bit like Flybe. I wonder if the lenders who were given millions of warrants at 0.75 are cashing out some of these holding the price down. It should be higher.
Fri 09:39

Sold majority of holding when contract announced , having averaged down to break even over the last 9 months. Company has had to outsource engineering to get this contract home so my guess is that the contract revenue while good will not generate much GP. For a company that from a previous RNS was fully funded Iím concerned that they have had to rearrange the loan incurring further costs. Track record of fund raising has not be good for shareholders.

However glutton for punishment I will probably buy back in if price drops much further or when second contract confirmed.
14 Jan '19

Natural gas futures up 16% in the US this afternoon
14 Jan '19

So no nomad, still only two MOUs, further cash drawn down. Positive RNS about possibilities but still no signed contract. Yet shareprice has only dropped @5% which is not bad given the expected profit taking and market today. EQT has always been a punt after the disastrous financing last year , board saying no more shares Placing then a huge increase. I expect them to announce a contract signing soon which should see the share price double I hope and more importantly lead to more contracts. Or it could lead to another share placing keeping the share price in the 2-3p range.

At the moment comparing EQT with other established players with proven technology , funding and contracts is just wishful thinking . just because you say it over and over again doesnít make it true. hopefully we will get a contract RNS announced with the new Nomad very soon and we can get the ball rolling.
12 Jan '19

Well said, Iíve often thought the constant ramping (been many months now) is detrimental to the share price, on purpose I expect
11 Jan '19

The previous RNS suggested that the funding behind the MOU was expected to be in place around the end of 2018 with contract being signed shortly thereafter. They are using a third party consultancy for engineering support this costs and working capita lis no doubt tight until contracts are signed. Lenders would not have extended facilities without sight of a strong order book/revenue stream so this is a promising RNS and I expect to read of the first signed contract soon and the share price to move upward again. Difficult to see through the relentless ramping which I imagine puts a lot of PIs off.
11 Jan '19

We are now back around the level where we were when the last major lot of ramping started and Ian came in. I imagine there will be a fair bit of selling from those that have endured the pain in the interim that will see the share hover atthis level. Once they have gone we should crack on to around 2p after this very positive news.
9 Jan '19

I can see where you are coming from comparing EQT £17M as a market leader alongside EDF £41.7M tells you all you need to know. EQT is just a minnow amongst many others offering a solution to the waste to energy problem. Even if it converts an existing MOU to a contract this will remain the case. However it s a huge market and there is room for a lot of minnows and after the funding farce of last year funds and trading relations are in place. Hopefully a contract will land and share price can move up to 2 or 3p
8 Jan '19

In September we were told On the signing of the MOU Two contracts collectively are expected to be valued in the region of EUR10 million. Phoenix is responsible for obtaining the permits, licences and authorisations ("PLA"), Power Purchase Agreements Phoenix or any third party associated to Phoenix to provide the necessary equity and debt financing for the project. Financial close is expected in late Q4 2018 and the purchase contracts executed shortly thereafter

Since then silence. The shares IMO will drift backdown to around 70p until the board gives us an update on progress. Itís all very well banging on about the size of the market , size of the established companies in it but when EQT seemingly canít even deliver on one of the two MOUs signed then you can understand why the SP drifts despite all the enthusiasm. Come on Ian give us an update.!!
7 Jan '19

No Nomad, no new MOU,s , No MOU converted to a live contract. Considering the market generally and EQTís past history I think the SP is holding up pretty well compared to the 3p it was at a year ago. If a contract gets signed this month as the CEOpreviously inferred 3p is on the cards again IMO if not 0.3 could be Seen again. AIM is a gamble so Is EQT. Iím happy to give them the benifet of the doubt until the end of Jan.
4 Jan '19

There are only two signed MOUs in play at the moment, they are reliant on the customer securing funding and selling the power on. In the US this probably requires a grant to compete with cheaper power sources. Hopefully the board will soon update us as to the likelihood of conversion (good I hope) and also whether they have been shortlisted for other projects.
3 Jan '19

Lots of volume today and only a small drop. Hopefully we should get a board update on one of the two MOUs if one drops out then we will be back down to 0.5 and if one converts to contract then I can see a jump to 2p . Once the contract starts and success can be demonstrated in the field then further contracts and SP increases will surely follow.
3 Jan '19

ďwhich is why EQT is rightly tipped to be the next unicorn following the likes of ASOS. Ď. Top Aimer can you confirm where was this said ? If it was in the press Iím amazed the SP is still stuck at 1p. We need an MOU to be converted or evidence that EQT has been shortlisted for other contracts For the SP to motor.
2 Jan '19

Glad we are over 1p but itís really now big deal. Anyone remember when this was 6p or before the latest two lots of shares /warrants 2p. Letís hope that a signed contract can be announced soon so that the company can get some income and the share grow.
27 Dec '18

I agree the SP should be higher. The problem is that this company has history in the recent past they have destroyed shareholder value by sheer financial mismanagement and lack of contract conversions. We have a new CEO and a good connected non exec but all the others that caused the problems including the major shareholder are still in place. Until the company can demonstrate a signed contract rather than another MOU PIs will continue to be sceptical. Hopefully those of us that have been in for quite a while will be rewarded in the future.
26 Dec '18

Applegarth this article so full of promise is effectively a year old , when the share price was nearer 3p. Since then no contracts have been signed and the share price continues to drift. Hopefully as mentioned in the recent RNS the first contract will be signed early in the new year and the company can start delivering and the share price rose accordingly.
24 Dec '18

This is good news and should help positive sentiment return in the new year
23 Dec '18

Iím a fairly long term holder in EQT who having averaged down to around 1.2 is still under water but hanging in there as I think it will come good. There is a nervousness n the U.K. for power from waste look at the bankruptcy of Interserve over it. We need government support or as in the existing MOUs overseas opportunities in more enlightened environment.
19 Dec '18

I would have thought the well being of our major shareholder is very important if the company is to grow.

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