Member Info for DerSack

Oh, I see, one paragraph was incomplete / lost in translation :-)

(03) The REX issue

13,333,333 shares for existing retail investors (i.e. people like us)

The shares can only be bought in the UK, only through certain brokers and only by existing shareholders. This severely restricts the customer base. Furthermore, the deadline for binding (!) ‘pre-orders’ is tomorrow at 5pm. You might think they don't actually want that.

The shares will also be issued at the beginning of July, if their issue was approved at the AGM. And the company reserves the right not to serve customers, or to serve them only partially, despite a binding order.

After rearranging the two RNSs, things look pretty simple. Basically, the placing consists of three parts:

(01) Unconditional placing:

74,074,964 shares for institutional investors and

666,666 shares for the directors

Together, this happens to be 9.9999% of the shares in issue to date.

This position is relatively certain, the shares are expected to be issued on Thursday morning at 8am or later.

(02) Conditional Placing:

15,258,369 shares for the same (!) institutional investors in shares corresponding to their stake from (01).

This position was created because there is apparently a rule that does not allow the BoD to increase capital by more than 10% without shareholder approval. This is effectively an addition to (01) that requires approval in order to achieve the amount or quantities actually desired.

The prerequisite for this is that (01) is passed and that (02) is approved at the AGM. The shares from this would then be placed on the market after the AGM at the beginning of July.

The shares will also be issued at the beginning of July, if their issue was approved at the AGM. And they reserve the right not to serve customers, or to serve them only partially, despite a binding order.

In my head, this is organised as follows:

Items (01) and (02) go to institutional investors. Provided they are well chosen, and there has been plenty of time for this since the capital market event, these shares will disappear into the drawer for a long time.

Position (03) cannot become a gambling position. Firstly, the circle of buyers is very limited, and secondly, forward selling is highly risky here: you cannot be sure to what extent you will be served. In fact, you can't even be sure whether position (03) will even be approved by the AGM at the end of the month

My shareholding in AFC will be diluted by a maximum of 13.8%. However, AFC will also have £15 million more in its coffers, which will offset 75% of the dilution. I can live with that if it accelerates processes.

Money is currently very, very expensive. Although the ECB cut its base rate a few days ago, it is still above 4%, and the BoE is still at just over 5%. Raising 15 million as an AIM stock in such times is quite a feat in the current economic situation and shows the confidence of investors.

Instead of being wishy-washy like other companies, the RNS clearly states what the money is to be used for.

I don't see anything negative here at the moment (apart from my lower account balance) and will sit it all out. If there weren't quarterly and half-yearly accounts due in three weeks' time, I would even hope for short dips downwards tomorrow to add a few more shares 😊

After some x10 => /100 => /10 action the final ratio is 1:100 and "Application has been made to the London Stock Exchange plc for the admission to trading on AIM of the Consolidated Ordinary Shares, which is expected to become effective and dealings commence at 8.00 a.m. on or around 21 December 2023 (the "Consolidation Admission")."

Well 909, once more got caught writing nonsense again, and because you ain't got real arguments, you try to change the subject and casually insult the BoD? Please stay on topic.

You have a very selective perception. Or better: You only read what suits you, then pick something out of context and put it in the frame that suits you.

The man behind the "new" partner is the CFO of Carbon Sole, maybe it's even a spin off of CS. The last action I know of CS was at the end of January this year.

I like the rns very much:

First of all: EQT have a new, easy to use, easy to store and easy to transport possible output: ethanol.

If you read the Vox Markets article and read the intended use "shall be used as a solvent, detergent, and disinfectant", then it becomes clear that, similar to Biochar, this could be a carbon sink. At least as long as the alcohol is not burned or otherwise converted into CO2.

When you see the man behind Domi Ost, you know that he has experience and you know that even Carbon Sole could perhaps go further in some form (He's the CFO of Carbon Sole). Maybe Carbon Sole just spawn ltds like EQT does spvs for every purpose and this is one of them.

The prospect of a handful of projects for which we don't have to pay anything at first doesn't make me unhappy either. The previously known Irish projects had 20MW and were already very advanced. At Sligo they initially failed because of the approval. Maybe they can apply again or at least copy and paste for somewhere else and you have learned from mistakes and start with low developement costs. How big was Deeside again? 20MW? Let them do it in Ireland.

Maybe it's just a project(s) spv of Carbon Sole.

Surely there will be an RNS tomorrow, and I can even tell you its name:

"Results of AGM"

But please don't expect it with the opening bell:

"[...] EQTEC PLC will be holding the meeting [...] tomorrow at 21st Jun 2023 at 2:00pm BST. [...]"

To learn more about your new favorite share, attend the AGM. It's free and it's educational:

https://www.investormeetcompany.com/

Besides this, the date was well chosen and falls exactly on this week's Athens Energy Summit (29.06-21.06.2023), where ETQ's partner Eco Hellas happens to be one of the three sponsors mentioned. Interesiting list of speakers and guests by the way:

https://athensenergysummit.gr/

The guests included the Technical Chamber of Greece, and their regional section felt free to share this on linked in:

The Technical Chamber of Greece - Regional Section of Central and Western Thessaly was present at the inauguration of the first biomass gasification power plant in Greece, Agrigas took place on Friday, June 16, at the company's facilities at the 7th km. PEO Larissa – Volos. 📍 At the inauguration ceremony, the Technical Chamber of Greece was represented by the Secretary of the Management Committee of the Department, Mr. Thanos Kokkalis, as well as engineers - members of the Department, who conveyed, on behalf of the President to the company's management, the wishes of the technical world for a smooth start of works and good luck in the work of the company and in the operation of the new unit.

Google translated article, link to the original article below).

Agrigas: The first biomass power plant was inaugurated on Friday in Larissa

"Agrigas' inauguration of the first plant in Greece that produces energy from biomass took place on Friday evening at the company's facilities located at the 7th km of the Larissa - Volos highway.

The event was honored with their presence by the mayor of Larisa Apostolos Kalogiannis, the former Minister of Rural Development Vassilis Kokkalis, the candidates for parliament Rena Karalariotou, Yiannis Karipidis and Zoi Akrivoulis, the president of the Municipal Council of Larisa Dimitris Tachos, the deputy mayors of the Municipality of Larisa Yiannis Alexoulis and Municipality of Platykambos Triantafyllos Tsinoulis, the head of the minority in the Municipal Council and candidate for mayor of Larissa Athanasios Mamakos, the president of the Larissa branch of the Chamber of Commerce Giorgos Hatzis, representatives of organizations and a crowd of people.

On behalf of the company's shareholders, speeches were made by the vice-president and managing director of Agrigas, Giorgos Paraskevopoulos, who referred to the innovative project for our country and the dynamics it is developing in the region, and the general manager, Alexandros Gekas, who thanked everyone who contributed to the completion of the investment and conveyed the greeting of the Hellenic Biomass Development Company (ELEAVIOM), of which Agrigas is a member. Greetings were addressed by the mayor of Larissa Apostolos Kalogiannis, the deputy mayor of Kileler Triantafyllos Tsinoulis and Mr. Kokkalis, Karalariotou and Karipidis. ...Agrigas Energy S.A. is a biomass electricity generation company using the gasification method that has a zero footprint of greenhouse gas emissions.

https://www.eleftheria.gr/%CE%B1%CE%B3%CF%81%CE%BF%CF%84%CE%B9%CE%BA%CE%AC/item/341230-agrigas-%CE%B7-%CF%80%CF%81%CF%8E%CF%84%CE%B7-%CE%BC%CE%BF%CE%BD%CE%AC%CE%B4%CE%B1-%CF%80%CE%B1%CF%81%CE%B1%CE%B3%CF%89%CE%B3%CE%AE%CF%82-%CE%B5%CE%BD%CE%AD%CF%81%CE%B3%CE%B5%CE%B9%CE%B1%CF%82-%CE%B1%CF%80%CF%8C-%CE%B2%CE%B9%CE%BF%CE%BC%CE%AC%CE%B6%CE%B1-%CE%B5%CE%B3%CE%BA%CE%B1%CE%B9%CE%BD%CE%B9%CE%AC%CF%83%CF%84%CE%B7%CE%BA%CE%B5-%CF%84%CE%B7%CE%BD-%CF%80%CE%B1%CF%81%CE%B1%CF%83%CE%BA%CE%B5%CF%85%CE%AE-%CF%83%CF%84%CE%B7-%CE%BB%CE%AC%CF%81%CE%B9%CF%83%CE%B1.html?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

I think our new ramper missed a few little things.

Just so he doesn't go to bed tonight and pat himself on the back for his success:

My friend, that was not your merit.

Rather, a power plant powered by EQT technology has been opened and it has not received any real attention here at LSE or in the form of an RNS. It just happened. And some people just know it from the internet, and others might not find out about it until tomorrow in a side note as part of the AGM.

" PLH is to be solely responsible for securing funding for the Colibri Projects with no contribution required from EQTEC".
Finally ...

I expect to hang below the placing pice as long as the "broker option" hovers over the heads of the existing shareholders.

For one thing, it's charming to sell their shares at around 0.22p or just under and then buy new shares at the same price and get a warrant for every two shares. Something like this pushes existing shares below 0.22p into the open market. On the other hand, as an existing customer, you will try to get the shares with the warrants and not buy them on the open market. Both together nail the price noticeably below 0.22p until the placing is completed.

By the way: I didn't get offers for both of my accounts and if so, wouldn't have any idea how to get placing shares to Germany.

Did anyone here get an offer from their brokers?

Interesting way of putting someone in the pillory who you just applauded before. And then to present it as if he were given a chance to justify it. Anyway. To make it short:

Andy can not ... or better ... is not allowed to reply right now.

His little cross-posting action this morning got him a little break from LSE. If you look at his history, you'll see that he only got to the end of the letter A before LSE put a stop to it.

He will be back when LSE decides.

It will make money. I roughly summarized it at the time for my overview and came up with the following:

Italy MDC in the original version (RNS from 06/21/2021)

€2.582m total cost, of which €2.1m was paid by a consortium of MNRG and two family offices, who together received 80%. Eqtec had to pay €482k for the remaining 20% (19.99% to be precise). In return, Eqtec was awarded the design, build and support contract valued at €1.75m (hopefully generating an undisclosed amount of profit). For ongoing operations, Eqtec has an O&M contract with a "value" of 210k p.a. In addition, there is an estimated EBITDA of 750k p.a., of which EQT should receive 150k p.a.

So the original costs of EQT were:
- One-time €482k for 19.99% of the project

The possible wins according to the old calculation:
- €150k from estimated EBITDA p.a.
- Some kind of O&M contract with a "value" of €210k p.a.
- One-time profits from the construction contract
- Advantage: Showcase & training center

With the upgrade according to RNS from November 22, 2022, the following changes then occurred:

Added €1.45m in loans and equity. The RNS doesn't say exactly which parts, but you can calculate roughly: MNRG and Pitcole have not followed and have been reduced from 20% to 15.88%. So the new total equity should be €2582m / 15.88 x 20 = €3.252m, the rest will be financed through said loans. If the new equity has been distributed according to the shares gained, EQT must have invested €3,252m x (0.199-0.1588) = €130k in equity to receive its 19.99%. And a loan of around 600k. This results in:

New cost of EQT:
- One-time €482k for 19.99% of the project
- Another €130k to keep the 19.99% share after the upgrade.
- Approx. €600k loan on unknown terms
- Own costs for the €600k loan

Possible wins:
- €200k from estimated EBITDA p.a.
- Some kind of O&M contract with a "value" of €210k p.a.
- One-time profits from the construction contract
- Interest from the loan
- Advantage: Showcase & training center

So in total, it is a good deal for everybody, and specially for EQT.

I wouldn't give c909 too much weight. All this would be admirable if they were his own ideas. Much of it is taken from other sources and then turned against EQT.

C909 was a passive member of said t-channel for a while and has absorbed a lot of crowd intelligence there.
We deliberately left him in and didn't care because alternative opinions are welcome. Until we nticed that the topics we were currently discussing were always used shortly afterwards by him at LSE against EQT. With many things you could say "OK, the proximity in time was coincidental, he may have thought about it himself".

But the Altair thing made us suspicious: No one has thought of that for a long time, but in early January, user Cliff came up with the following, very accurate, theory:

05.01., 13:56 „IMO:Another 51x10m all before April? Great times to buy.“
05.01., 14:44 „Altair Group Investments with shares to come later at 0.45 being less than the 0.5 placing and able to sell equivalent ones from original 0.09 - 0.25 days looks about what most would do. Looking forward no doubt, to the days when above 0.45 for 70 continues days.”
05.01., 15:55 “Covers the loan and still has interest being paid up front to settle calls. 660m shares coming.”

On this basis, we discussed three to four days when c909 then on 10.01. posted "his" idea in a thread called "Seller" at LSE, not without giving it a negative touch:
https://www.lse.co.uk/ShareChat.asp?ShareTicker=EQT&share=Eqtec&thread=1F03F77F-651E-410E-A282-98EFFD16D78F

That was why I removed him from the T-channel on January 12th and commented at the time as follows: „Have been reading on LSE today and found C909 turning things against us which for sure weren't his own thoughts. Normally I am not a friend of throwing out people for having different opinions, but it seems that he only uses this channel to collect our info and turn it against us. Therefore: Computer909 has now left the building.”

C909 isn't a healthy antidote to anything, he's one of the best proactive bashers we've had:

He has perfected gathering information from the community, picking out details and using them against EQT.
If there are no arguments against a posting, he picks individual sentences out of context, quotes them and then denies this one quote in order to discredit the entire posting and redirect the discussion in his favor.
If nothing fits, either the silence or the income of the BoD is hacked at. Or he covers the BoD with insults.

And all under the guise of being an investor himself. An investor who's been talking negatively about the more or less only stock he's been talking about at LSE for the last few months.

The year is now just two months old and the sole activity of his LSE account has been to make more than 100 posts in such a short time against a his own investment.

To come back to the original question:

Level 2 is of no help if you want to know how many shares are currently available for trading.

With the market makers, only the usual "market size" is requested/offered on the bid/ask side of the L2 order book. And besides the MMs, the order book for EQT is usually empty. That means almost everyone buys EQT from the MMs and sells EQT to the MMs.

There are currently ten MMs trading EQT, eight of which are permanently offering to buy or sell 200k shares. Two offer 250k shares. Prices on the “Ask” side today varied from 0.25p to 0.30p. This means 2.1m shares between 0.25 and 0.3p. Each MM can have or want significantly more shares than stated in the order book. And at differend prices.

You can’t find out the exact number of available shares. But you can find out the minimum by doing exactly what Andy did: Ask your broker for quotes for 1m, 5m, 10m, 30m, 50m. For some quantities you get a price, for others the message that such a large quantity is not available. That doesn't give you the certainty that this is the end, but you do know how many shares they could at least offer. Andy's answer made sense.

But since there is at least one person here who seems to know better:

Bucklerfern, please tell us how many shares are still available and at what prices. And not a fun number, just facts. And please let us know how you found out.

EU Directive 2014/23/EU sets a number of thresholds for the award of public contracts, up to which simplified award procedures apply. As soon as it goes beyond that, an award note in accordance with Guideline 2014/24/EU is required.

Such an award note is filled out by the client (!). In this case by the University of Lorain. Such award note contains information about the contractor and the contract value. In addition, it contains information as to whether the contract will be awarded with a participant competition (tenders, solicitation of offers,...). And in our case, why it is awarded to the contractor without a competition.

In our case, the University of Lorain is the client and wants to spend up to 4m euros. When an award note is issued, the funds are usually already available or can be called up by the client.

The award note is not yet an order, but it is a prerequisite for public contracts of this magnitude. It is only an internal process of the university (which had to be published due to reaching certain thresholds). But nothing that Eqtec would have to report via RNS.

But If things have proceeded so far, the order usually follows a short time later.

Since this is an order to a subsidiary (Eqtec Iberia), I do not know whether the order must be reported via RNS at all. As a contionental guy, I'm not that deeply involved in British stock law.

In any case, the money ends up at Eqtec PLC in a roundabout way and corresponds to a good 15% of the current market capitalization. Hooray :-)

I'm in a very positive mood at the moment. As for Italy, the old rule applies: if you add anything to late projects, they become... later. And if, for example, an important part is not delivered together with the other things, but a long time later, then you can assume that the manufacturer has not tested the parts together and something needs to be adjusted. Something like that takes time, even if nobody wants to admit it or admit it when the project is very late.

Croatia is more or less congruent, and many things will already have happened in parallel. Many of those who build/built their first Advanced Gasification plant in Italy can already use their experience in Croatia more routinely. Italy is not years ahead, but only 1-2 steps. When the corks pop in Italy, it will certainly happen in Croatia shortly afterwards.

The presentation that Rollon found is more than positive. Although marked "confidential", it was hosted on a public government server. That means it's in the government's interest; important enough for Eqtec to agree that it is published on the government servers. Must have been a valuable event.

However, the US-hurdle that must be taken to get there is that the ###%%& North Fork thing must be taken off the table. And we had good news recently: in their November, The North Fork CDC, whose glass is usually half empty rather than half full, are accordingly looking forward very benevolently:

"Biomass plant—update: Wade Wheeler reported that the project is moving forward. The bankruptcy statue is being worked out and at the moment, the DCD has 49% equity. Wade indicated that we may not need a lawyer (per the October minutes), and that we should hold for now. Completion of the biomass energy project should be June/July 2023. The Tribe was asked for a letter of support from Phoenix Energy. Dan Rosenberg shared a letter that he sent to NFCP, that we cannot transfer title for Lots 16 and 17 at this time, as the infrastructure is not complete."
( https://northforkcdc.org/?cat=7 )