Last checked at 28 May 2021 16:01
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
This announcement contains inside information for the purposes of the UK version of Article 7 of Regulation (EU) 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
EQTEC plc
("EQTEC", the "Company" or the "Group")
Results of Placing, PrimaryBid Offer and Subscription
Directors' Dealings
EQTEC plc (AIM: EQT), a world leading gasification technology solutions company for sustainable waste-to-energy projects, announces the results of the Fundraising, further to its announcements of 7.00 a.m. and 10.42 a.m. today.
The Fundraising was oversubscribed.
The Placing, the PrimaryBid Offer and the Subscription has raised £16 million (before expenses) through the placing of 712,333,326 Placing Shares, subscription for 66,666,666 PrimaryBid Shares and subscription for 287,666,664 Subscription Shares, in each case at an Issue Price of 1.5 pence per share.
Capitalised terms used but not defined in this announcement shall have the meaning given to them in the announcement at 7.00 a.m. today.
Related Party Transaction - Syngas Settlement
Dr. Yoel Alemán, CTO and a Director of the Company, has now entered into the Syngas Settlement.
Accordingly, on Admission, following the issue of shares pursuant to the Syngas Settlement, Yoel Alemán will be interested in 170,791,970 Ordinary Shares, representing 2.0% of the Company's issued share capital.
Related Party Transaction - Director participation in the Subscription
Ian Pearson, Non-Executive Chairman and a Director of the Company, has agreed to subscribe for 6,666,666 Subscription Shares at the Issue Price. Ian Pearson is a related party as defined in the AIM Rules. As a result, his participation in the Subscription is a related party transaction pursuant to Rule 13 of the AIM Rules. Accordingly, the independent directors of the Company (being those directors other than Ian Pearson), having consulted with the Company's Nominated Adviser, Strand Hanson Limited, consider the terms of the issue to be fair and reasonable insofar as the Company's shareholders are concerned.
On Admission, following the issue of the 6,666,666 Subscription Shares, Ian Pearson will be interested in 7,204,300 Ordinary Shares, representing 0.1% of the Company's issued share capital.
Related Party Transaction - substantial shareholder participation in the Subscription
Altair Group Investment Limited ("Altair") has an existing holding of 1,487,424,441 Ordinary Shares in the Company representing 20.6 per cent. of the Company's issued share capital and, as such, is a substantial shareholder as defined in the AIM Rules for Companies ("AIM Rules"). Altair has agreed to subscribe for 146,666,666 Subscription Shares at the Issue Price. As a result, their participation in the Subscription is a related party transaction pursuant to Rule 13 of the AIM Rules. Accordingly, the independent directors of the Company, having consulted with the Company's Nominated Adviser, Strand Hanson Limited, consider the terms of the issue to be fair and reasonable insofar as the Company's shareholders are concerned.
On Admission, following the issue of the 146,666,666 Subscription Shares, Altair Group Investment Limited will be interested in 1,634,091,107 Ordinary Shares, representing 19.4% of the Company's issued share capital.
Admission and Total Voting Rights
The Company will make an application to London Stock Exchange plc for an aggregate of 1,199,199,775 Ordinary Shares, comprising 712,333,326 Placing Shares, 66,666,666 PrimaryBid Shares, 287,666,664 Subscription Shares, 2,666,666 Supplier Shares, 82,982,304 Syngas Settlement Shares and 46,884,149 Warrant Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence on or around 3 June 2021. The New Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, there will be 8,435,044,926 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.
ENQUIRIES
EQTEC plc | +353 21 2409 056 |
David Palumbo / Gerry Madden | |
Strand Hanson - Nomad & Financial Adviser | +44 20 7409 3494 |
James Harris / James Dance | |
Arden Partners - Joint Broker | +44 20 7614 5900 |
Paul Shackleton (Corporate) / Simon Johnson (Sales) | |
Canaccord Genuity - Joint Broker | +44 20 7523 8000 |
Henry Fitzgerald-O'Connor / James Asensio / Patrick Dolaghan | |
Alma PR - Financial Media & Investor Relations | +44 20 3405 0205 |
Josh Royston / Sam Modlin | EQTEC@almapr.co.uk |
BECG - General Media Enquiries | +44 7554 014 188 / +447867 452 269 |
Carrie Lowe / Tom Gosschalk | EQTEC@BECG.com |
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. Ian Pearson 2. Yoel Alemán | ||||
2. | Reason for the Notification | |||||
a) | Position/status | 1. Non-Executive Chairman 2. 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 | 28 May 2021 | ||||
f) | Place of the transaction | AIM (LSE) | ||||