LONDON (Alliance News) - EQTEC PLC on Tuesday said it raised GBP1.5 million after a warrant exercise by Altair Group Investment Ltd.
Altair on Monday exercised warrants over 105.3 million shares at 0.975 pence each and further 50.0 million shares at 0.75p. The warrants were first issued in 2017 and 2018.
EQTEC shares closed down 1.2% at 1.2p each on Tuesday.
Also on Monday, Altair sold 136.4 million shares in EQTEC, including 15.5 million held by Ecofinance Ltd, a wholly-owned subsidiary of Altair.
Admission of the new shares to trading is expected on March 13, following which EQTEC will have 1.96 billion shares in issue.
On admission, Altair will hold an 8.36% stake in EQTEC, or 164.5 million shares.
Eqtec (EQT)