REG - Enteq Technologies - Appointment of Administrators

Enteq TechnologiesAnnouncement

Yesterday 07:00

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RNS Number : 7218G  Enteq Technologies PLC  30 April 2025

30 April 2025

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 (AS AMENDED) AS IT FORMS PART OF THE
DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR"). WITH THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.

 

Enteq Technologies plc

("Enteq" or the "Company")

Appointment of Administrators

and

Resignation of Nominated Adviser

 

Enteq Technologies plc (AIM: NTQ.L) provides the following update further to
its announcement of 25 April 2025. Enteq continues to require funding however
the Board now no longer considers that suitable funding can realistically be
raised. The Board has continued to seek advice on its appropriate next steps,
and regrettably has concluded that, after detailed consideration of the
Company's current financial situation, it will not be able to meet its
liabilities as they fall due and is therefore required to take the necessary
steps to seek to preserve value for creditors. The Board has consequently
resolved to appoint Managing Directors from Alvarez & Marsal Europe LLP as
administrators to the Company. It is anticipated that the administrators will
be appointed during the course of today or tomorrow.

Suspension of Trading on AIM

In light of the above, the Board announces that it has requested a suspension
of trading in the Company's ordinary shares on AIM with effect from 07:30 a.m.
today (the "Suspension").

Resignation of Nominated Adviser

Consequently, Cavendish Capital Markets Limited has informed the Company of
its intention to resign as Nominated Adviser and Broker to the Company with
immediate effect following Suspension. Pursuant to AIM Rule 1, if a
replacement Nominated Adviser is not appointed within one month of today's
date, the admission of the Company's ordinary shares to trading on AIM will be
cancelled. The Company has no current intention of appointing a replacement
Nominated Adviser.

For further information, please contact:

Enteq Technologies
plc
+44 (0)20 8087 2202

www.enteq.com (http://www.enteq.com/)

Andrew Law, Chief Executive Officer

 

Cavendish Capital Markets Limited (NOMAD and
Broker)                     +44 (0)20 7220 0500

Ed Frisby, George Lawson (Corporate Finance)

Andrew Burdis (ECM)

 

This announcement has been issued by, and is the sole responsibility of,
Enteq.

This announcement contains inside information as defined under MAR. The person
responsible for arranging the release of this announcement on behalf of Enteq
is Andrew Law (CEO).

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