Shares in EQTEC PLC (AIM:EQT, FRA:KEU) fell 21% to 0.1p on Wednesday after the waste-to-energy technology firm published details of an upcoming shareholder vote on a significant overhaul of its capital structure — including a proposed name change to Forgent plc.
The company released a circular convening an extraordinary general meeting (EGM) for 12 February 2026 in Dublin, where shareholders will be asked to approve resolutions increasing the company’s authorised share capital and renewing its share allotment authorities.
EQTEC said the proposals are part of a broader effort to support the firm’s expanded strategy, details of which are outlined in the circular.
As part of that rebranding, the board is also seeking approval to change the company’s name to Forgent PLC, a move intended to give the business a “clearer identity”.
The sharp drop in share price reflects investor caution around further dilution, following a turbulent period for the company as it attempts to reposition itself and secure new sources of funding.
The circular is now available on the company’s website, with the board encouraging shareholders to read the full document ahead of the meeting.