Last checked at 18 Dec 2023 13:30
18 December 2023
EQTEC plc
("EQTEC", the "Company" or the "Group")
Results of Extraordinary General Meeting, Capital Reorganisation and Share Consolidation
EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels and energy generation is pleased to announce that at the Company's Extraordinary General Meeting, held earlier today, all resolutions put to the meeting were duly passed approving, inter alia, the Capital Reorganisation and Share Consolidation, as detailed in the Circular published and posted to Shareholders on 24 November 2023.
Pursuant to the Capital Reorganisation and Share Consolidation, the Company's existing 14,783,204,492 ordinary shares of ?0.001 each will be consolidated into 147,832,044 ordinary shares of ?0.01 each in issue, being the Consolidated Ordinary Shares. The ISIN and SEDOL code of the Consolidated Ordinary Shares will be IE000955MAJ1 and BLF9HQ3, respectively.
No new share certificates representing the Consolidated Ordinary Shares will be sent to Shareholders who hold Existing Ordinary Shares in certificated form. Accordingly, share certificates for the Existing Ordinary Shares will remain valid, and will only be replaced by share certificates for Consolidated Ordinary Shares when the old share certificates are surrendered for cancellation following the transfer, transmission or other disposal of Consolidated Ordinary Shares.
Admission of the Consolidated Ordinary Shares to trading on AIM
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").
Total Voting Rights
Following the Consolidation Admission, the Company's issued share capital will consist of 147,832,044 Consolidated Ordinary Shares each with one voting right. The Company holds no Ordinary Shares in Treasury. This number may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Unless otherwise defined, capitalised terms used in this announcement have the same meanings as ascribed to them in the Company's announcement dated 24 November 2023.
ENQUIRIES
EQTEC plc David Palumbo / Jeffrey Vander Linden
| +44 20 3883 7009 |
Strand Hanson - Nomad & Financial Adviser James Harris / Richard Johnson
| +44 20 7409 3494 |
Global Investment Strategy UK Ltd - Broker Samantha Esqulant
| +44 20 7048 9045 |
Fortified Securities - Broker Guy Wheatley
| +44 20 3411 7773 |
Panmure Gordon - Broker John Prior / Hugh Rich
| +44 20 7886 2500 |
About EQTEC
As one of the world's most experienced thermochemical conversion technology and engineering companies, EQTEC delivers waste management and new energy solutions through best-in-class innovation and infrastructure engineering and value-added services to owner-operators. EQTEC is one of only a few technology providers directly addressing the challenge of replacing fossil fuels for reliable, baseload energy. EQTEC's proven, proprietary and patented technology is at the centre of clean energy projects, sourcing local waste, championing local businesses, creating local jobs and supporting the transition to localised, decentralised and resilient energy systems.
EQTEC designs, specifies and delivers clean, syngas production solutions in the USA, EU and UK, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process 60 varieties of feedstock, including forestry waste, agricultural waste, industrial waste and municipal waste, all with no hazardous or toxic emissions. EQTEC's solutions produce a pure, high-quality synthesis gas ("syngas") that can be used for the widest range of applications, including the generation of electricity and heat, production of renewable natural gas (through methanation) or biofuels (through Fischer-Tropsch, gas-to-liquid processing) and reforming of hydrogen.
EQTEC's technology integration capabilities enable the Group to lead collaborative ecosystems of qualified partners and to build sustainable waste reduction and green energy infrastructure around the world.
The Company is quoted on the London Stock Exchange's Alternative Investment Market (AIM) (ticker: EQT) and the London Stock Exchange has awarded EQTEC the Green Economy Mark, which recognises listed companies with 50% or more of revenues from environmental/green solutions.
Further information on the Company can be found at www.eqtec.com.