Last checked at 16 Mar 2018 09:25
16 March 2018
EQTEC plc
("EQTEC" or the "Company")
Update on Unsecured Convertible Loan Note Facility
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that further to the statement of 28 February 2018, the Board of Directors has decided not to proceed with any further draw down amounts under the Unsecured Convertible Loan Note Facility Agreement of up to £7.5 million ("Loan Notes").
In addition, the Company has agreed in principle, and is in preliminary discussions with the investor and the Company's advisers, to cancel the Loan Note Agreement, and for the redemption of existing amounts outstanding at the earliest opportunity.
A further announcement will be made in due course as appropriate.
Enquiries
EQTEC plc | +353 (0)21 2409 056 |
Luis Sanchez - Chief Executive Officer Gerry Madden - Finance Director | |
Northland Capital Partners Limited - Nomad and Joint Broker | +44 (0)20 3861 6625 |
Tom Price / Dugald J. Carlean | |
SVS Securities Plc - Joint Broker | +44 (0)20 3700 0093 |
Tom Curran / Ben Tadd | |
VSA Capital Limited - Financial Adviser and Joint Broker | +44 (0)20 3005 5000 |
Andrew Monk / Andrew Raca | |
Luther Pendragon - Financial PR | +44 (0)20 7618 9100 |
Harry Chathli / Alexis Gore / Ana Ribeiro |
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.