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"Shareholders are also reminded that as all Resolutions to be voted on at the General Meeting are conditional, all Resolutions must be approved for the Acquisition to proceed. Motif Bio plc will not be able to continue operations in the absence of the Acquisition. As a result, if all Resolutions are not approved by Shareholders, it is expected that Motif's AIM Admission will be cancelled as soon as practicable following the General Meeting and Shareholders will receive no further value."
Think the value was lost long ago......the great Valentines Day Massacre of Motif .
EQTEC plc
("EQTEC", the "Company" or the "Group")
Results of Placing, PrimaryBid Offer and Subscription
Directors' Dealings
EQTEC plc (AIM: EQT), a world leading gasification technology solutions company for sustainable waste-to-energy projects, announces the results of the Fundraising, further to its announcements of 7.00 a.m. and 10.42 a.m. today.
The Fundraising was oversubscribed.
The Placing, the PrimaryBid Offer and the Subscription has raised £16 million (before expenses) through the placing of 712,333,326 Placing Shares, subscription for 66,666,666 PrimaryBid Shares and subscription for 287,666,664 Subscription Shares, in each case at an Issue Price of 1.5 pence per share.
Capitalised terms used but not defined in this announcement shall have the meaning given to them in the announcement at 7.00 a.m. today.
Related Party Transaction - Syngas Settlement
Dr. Yoel Alemán, CTO and a Director of the Company, has now entered into the Syngas Settlement.
Accordingly, on Admission, following the issue of shares pursuant to the Syngas Settlement, Yoel Alemán will be interested in 170,791,970 Ordinary Shares, representing 2.0% of the Company's issued share capital.
Related Party Transaction - Director participation in the Subscription
Ian Pearson, Non-Executive Chairman and a Director of the Company, has agreed to subscribe for 6,666,666 Subscription Shares at the Issue Price. Ian Pearson is a related party as defined in the AIM Rules. As a result, his participation in the Subscription is a related party transaction pursuant to Rule 13 of the AIM Rules. Accordingly, the independent directors of the Company (being those directors other than Ian Pearson), having consulted with the Company's Nominated Adviser, Strand Hanson Limited, consider the terms of the issue to be fair and reasonable insofar as the Company's shareholders are concerned.
On Admission, following the issue of the 6,666,666 Subscription Shares, Ian Pearson will be interested in 7,204,300 Ordinary Shares, representing 0.1% of the Company's issued share capital.
Related Party Transaction - substantial shareholder participation in the Subscription
Altair Group Investment Limited ("Altair") has an existing holding of 1,487,424,441 Ordinary Shares in the Company representing 20.6 per cent. of the Company's issued share capital and, as such, is a substantial shareholder as defined in the AIM Rules for Companies ("AIM Rules"). Altair has agreed to subscribe for 146,666,666 Subscription Shares at the Issue Price. As a result, their participation in the Subscription is a related party transaction pursuant to Rule 13 of the AIM Rules. Accordingly, the independent directors of the Company, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, consider the terms of the issue to be fair and reasonable insofar as the Company's shareholders are concerned.
On Admission, following the issue of the 146,666,666 Subscription S
Hold up......Gold,Lumsden et al stepping down! This sounds a bit more promising. Just a shame about the 220:1
Thats a p15s take that for an RTO......they can stick it up their chorus n verse!
Only good news is JG is away that I can see......spanked the company into oblivion and now they're going to try and raise to assist the RTO..... who never saw this coming?
Don't be so condescending! Very rarely look at this board because of arse holes like you trying to be smart! My attention was drawn back to this dead duck when the voting email came in.