Last checked at 9 Jul 2020 12:17
THIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
CERTAIN INFORMATION COMMUNICATED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
9 July 2020
EQTEC plc
("EQTEC", the "Company" or the "Group")
Results of Placing and PrimaryBid Offer
Directors' Dealings
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that, further to its announcement of 7.00 a.m. today, it has successfully completed the oversubscribed Fundraising which is now closed.
The Placing and PrimaryBid Offer has raised £10 million (before expenses) through the placing of 2,000,000,000 Placing Shares and subscription for 222,222,220 PrimaryBid Shares both at an Issue Price of 0.45 pence per share.
Directors' Dealings
The Company has now also issued the, in aggregate, 78,179,584 Director Remuneration Shares. Accordingly, on Admission (as defined below), the relevant Directors' interests will be as follows:
Director | No. of Director Remuneration Shares | Resultant holding of Ordinary Shares on Admission | Percentage of total voting rights on Admission |
Thomas Quigley | 10,909,091 | 26,254,154 | 0.38% |
David Palumbo | 23,454,545 | 23,659,090 | 0.34% |
Gerry Madden | 17,343,221 | 18,730,038 | 0.27% |
Yoel Aleman | 26,472,727 | 78,209,666 | 1.14% |
Admission and Total Voting Rights
The Company will make an application to London Stock Exchange plc for the 2,608,936,059 New Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence on or around 15 July 2020. The 2,608,936,059 New Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, there will be 6,868,712,306 Ordinary Shares in issue. 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.
On Admission, following the issue of the Altair Conversion Shares, Altair will be interested in 1,373,424,441 Ordinary Shares, representing 20% of the Company's issued share capital.
David Palumbo, CEO of EQTEC, said:
"We are pleased to welcome many new leading blue-chip institutional shareholders to our share register through this oversubscribed institutional placing, and we are delighted by the support from our existing shareholders in the PrimaryBid offer. The Fundraising will enable the Company to capitalise on the positive momentum which it entered 2020 by utilising the proceeds of the fundraise to develop the Company's existing projects and strengthen its balance sheet."
Capitalised terms in this Announcement shall have the same meanings given to such terms in the Company's announcement of 7.00 a.m. today.
For further information, please contact:
EQTEC plc | +353 21 2409 056 |
David Palumbo / Gerry Madden | |
Strand Hanson - Nomad & Financial Adviser | +44 207 409 3494 |
James Harris / James Dance / Jack Botros | |
Arden Partners - Joint Broker | +44 207 614 5900 |
Paul Shackleton (Corporate) / Fraser Marshall (Sales) | |
SI Capital Limited - Joint Broker | +44 148 341 3500 |
Nick Emerson / Jon Levinson | |
IFC Advisory - Financial PR & IR | +44 203 934 6630 |
Tim Metcalfe / Graham Herring / Zach Cohen |
PDMR Notification Form:
The notification below is made in accordance with the requirements of the Market Abuse Regulation:
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | 1. Thomas Quigley 2. David Palumbo 3. Gerry Madden 4. Yoel Aleman | ||||
2. | Reason for the Notification | |||||
a) | Position/status | 1. NED 2. CEO 3. FD 4. CTO | ||||
b) | Initial notification/amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | EQTEC plc | ||||
b) | LEI | 63540085VSYVDEINJO04 | ||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted | |||||
a) | Description of the Financial instrument, type of instrument | Ordinary Shares of EUR0.001 each | ||||
Identification code | IE00BH3XCL94 | |||||
b) | Nature of the Transaction | Issue of shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price | N/A (Single transaction) | ||||
e) | Date of the transaction | 9 July 2020 | ||||
f) | Place of the transaction | AIM (LSE) | ||||