RE: RNS24 Oct 2025 07:05
Funding
On 1 June 2025, the Company entered into an option agreement (the "Option Agreement") under which Rebel Ion Limited (formerly Compact WTL Tech Limited) granted EQTEC the right, at the Company's sole discretion, to require Rebel Ion to subscribe for new Ordinary Shares up to a maximum subscription of £1.5 million. To date, £0.25 million has been subscribed under the Option Agreement. The Company was on 23 October 2025 formally notified that Rebel Ion has decided to suspend further subscriptions under the Option Agreement, should they be requested by the Company. The Company was informed that this decision is the result of an ongoing review by Rebel Ion and its advisors into any regulatory implications of the recent ownership changes of Rebel Ion. The Company is considering its position in relation to the Option Agreement. To preserve his independence as a Director of the Company, David Palumbo, prior to notification, resigned from his role as a Director of Rebel Ion Limited on 23 October 2025. As previously announced, Rebel Ion in the process of taking full ownership of the Company's secured debt.
EQTEC has proactively sought alternative financing and therefore now announces a new funding facility of up to £1.5 million (the "Facility) provided by the Company's sole broker, Global Investment Strategy UK Limited ("GIS"), with an immediate drawdown of £300,000.
Proceeds from the Facility will be directed toward supporting ongoing working capital requirements with further drawdowns also advancing the development and commercialisation of EQTEC's integrated intellectual property as a platform for Waste-to-Liquids ("WtL") technologies, enabling the Company's entry into the fast-growing synthetic fuels sector. While the Company is reliant on further Facility drawdowns, it is confident these will be available or that it will be able to access alternate sources of financing if required.
Sign In
Follow the stocks
