("EQTEC" or the "Company")
Holdings(s) in Company and Exercise of warrants
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces a number of transactions in the Company's ordinary shares of €0.001 each ("Ordinary Shares"), including the exercise of warrants, pursuant to which the Company has received gross proceeds of £1,459,546. As a result of these transactions, the shareholding of Altair Group Investment Limited ("Altair") in the Company will increase from 137,868,580 Ordinary Shares to 164,532,102 Ordinary Shares.
Holding(s) in the Company
The Company has been notified by Altair that, on 4 March 2019, it sold 136,363,636, Ordinary Shares, including 15,528,000 Ordinary Shares held by Ecofinance (GLI) Limited ("Ecofinance"), a wholly owned subsidiary of Altair. Following the disposal, Altair is now interested in, in aggregate, 1,504,944 Ordinary Shares, representing approximately 0.08% of the Company's current issued share capital.
Exercise of warrants
In addition, on 4 March 2019, the Company received a notice of exercise from Altair in respect of warrants over 105,263,158 Ordinary Shares at a price of 0.975 pence per share and further notices of exercise from each of Altair and Ecofinance in respect of warrants over 50,000,000 Ordinary Shares and 7,764,000 Ordinary Shares respectively at a price of 0.75 pence per share. The aggregate gross proceeds of these exercises amount to £1,459,546.
These warrants were issued in 2017 and 2018 and represent the full exercise of the warrants issued to both Altair and Ecofinance.
Admission, Total Voting Rights and Resulting Interest
The Company will make an application for the 163,027,158 new Ordinary Shares, to be issued and allotted as a result of the warrant exercises set out above, to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 13 March 2019. The 163,027,158 new Ordinary Shares will rank pari passu with the existing Ordinary Shares.
The Company has agreed with Altair and Ecofinance that the new Ordinary Shares to be issued to them following the exercise of the warrants will be, from the date of Admission, subject to a lock in period for 90 days and an orderly market agreement for a further 90 days. Such agreements will be entered into prior to Admission.
Following Admission, there will be 1,967,771,381 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, Altair, will be interested in, in aggregate, 164,532,102 Ordinary Shares, representing approximately 8.36% of the Company's then enlarged issued share capital.
Ian Price CEO of EQTEC commented:
"EQTEC currently has access to several potential funding routes including venture debt facilities, loans and equity. The ongoing support from our long-term investors demonstrates their confidence in our business model and enable us to further maximize shareholder value through the potential delivery of contracts ranging from €10-100m.
With the high level of demand in the Waste to Energy Sector, this funding places the Company in a stronger position to capitalize on these opportunities and accelerate the growth of the business."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Notes to Editors
About EQTEC plc
EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects to which it will ultimately sell its EQTEC Gasifier Technology ("EGT") and O&M services. EGT enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.
EQTEC sources projects that have a local supply of waste in need of elimination and conversion. It builds relationships and brings together the developers, the waste owners, the building contractors and funders. It then supplies the energy recovery technology and provides engineering services to the projects. Furthermore, EQTEC will provide O&M services to the operating projects generating recurring revenues over the life of the projects.
The Company is quoted on AIM and trades as EQT. Further information on the Company can be found at www.eqtecplc.com
+353 (0)21 2409 056
Ian Price - Chief Executive Officer
Gerry Madden - Finance Director
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Strand Hanson - Nomad, Financial Adviser & Broker
+44 (0) 207 409 3494
James Harris/Richard Tulloch/Jack Botros
IFC Advisory - Financial PR
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Graham Herring / Tim Metcalfe
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