Rns31 Mar 2020 15:40
Creation of New Employee Incentive Warrant Pool
EQTEC plc (AIM: EQT), the technology solution company for advanced gasification in waste to energy projects,
announces that it has established an Employee Incentive Warrant Pool ("EIWP") for all employees.
The Board of Directors of the Company has approved the creation of an EIWP warrant instrument that allows for the issue of 590,906,437 warrants ("Warrants") over new ordinary shares of €0.001 each in the Company ("Ordinary Shares") to employees. The Warrants represent approximately 15% of the current issued Ordinary Share capital of the Company and will be used to incentivise performance and align the interests of employees with those of shareholders. The exercise price of the Warrants granted under the EIWP will be 0.25p per Ordinary Share, representing a premium of 43% to the last middle market closing price. The EIWP Warrant Instrument is dated today and each Warrant is exercisable for a period of 36 months from the date of the instrument.