Last checked at 25 May 2018 11:18
25 May 2018
EQTEC plc
("EQTEC" or the "Company")
Loan Note Conversion Notice
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, received on 24 May 2018 a conversion notice pursuant to the Unsecured Loan Note Facility announced on 28 February 2018 for the principal amount of £100,000 to be converted at 0.3p per share into 33,333,333 new ordinary shares in the Company.
Upon issue, the new ordinary shares would comprise 2.29% of the enlarged issued share capital of the Company.
The Company has been notified by the Loan Note Investor that the current conversion took place to cover an existing open short position that the Investor had taken in the Company's shares and that it will allow sufficient time for the debt discussions noted in the announcement made by the Company dated 23 May to conclude, and during that period the Investor will not convert any further bonds or take any new short positions in the Company's share capital.
Application will be made for the admission to AIM of the new ordinary shares in accordance with the terms of the Loan Note agreement.
Enquiries
EQTEC plc | +353 (0)21 2409 056 |
Luis Sanchez - Chief Executive Officer Gerry Madden - Finance Director |
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Northland Capital Partners Limited - Nomad and Joint Broker | +44 (0)20 3861 6625 |
Tom Price / Dugald J. Carlean |
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SVS Securities Plc - Joint Broker | +44 (0)20 3700 0093 |
Tom Curran / Ben Tadd |
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VSA Capital Limited - Joint Broker | +44 (0)20 3005 5000 |
Andrew Monk / Andrew Raca |
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Luther Pendragon - Financial PR | +44 (0)20 7618 9100 |
Harry Chathli / Alexis Gore / Ana Ribeiro |
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This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.