REG - EQTEC PLC - Grant of Long-term Incentive Plan Options
23/06/2023 09:45
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RNS Number : 7358D EQTEC PLC 23 June 2023
23 June 2023
EQTEC plc
("EQTEC", the "Company" or the "Group")
Grant of Long-term Incentive Plan Options
EQTEC plc (AIM: EQT), a global technology innovator powering distributed,
decarbonised, new energy infrastructure through its waste-to-value solutions
for hydrogen, biofuels and energy generation announces that, on 23 June 2023,
its Board of Directors approved the award of options over a total of
753,802,555 ordinary shares of €0.001 each in the Company ("Ordinary
Shares") under the EQTEC All Employee Long-term Incentive Plan, launched in
2021 (the "Options") (the "LTIP").
The number of Options awarded under the LTIP represent the maximum total share
options available to employees of the Company on the basis of 2023 performance
against vesting conditions set annually in line with the Company's annual
performance targets. Awards have been calculated by reference to a price of
0.25p, being a 39% premium to the closing share price of 22 June 2023. Subject
to vesting conditions of the LTIP, which include personal commitment (40%) and
Company performance conditions (60%), up to one-third of the Options shall
vest each year, commencing on the first anniversary of award. The LTIP awards
represent a significant portion of executive remuneration linked with the
performance of the Company. Pursuant to the terms of the LTIP, the Options are
exercisable at €0.001 each, being the nominal value of an Ordinary Share.
Included within the total 753,802,555 options awards for 2023 ("Awards") are
the following to directors of the Company as part of their annual remuneration
and incentivisation packages:
Director Options granted in 2023 under the LTIP
David Palumbo 135,000,000
Jeffrey Vander Linden 135,000,000
Nauman Babar 105,000,000
Yoel Alemán 92,820,000
The objective of the LTIP is to continue to progress individual and team
performance in line with Company performance, thereby creating value for
shareholders while minimising cash outlay. All Company executive directors and
employees are eligible to participate in the LTIP as part of a broader
all-company remuneration strategy and the scheme allows all employees to
participate in the long-term success of the Company.
Following these grants, the Company has, in aggregate, 1,281,640,323 warrants
and options in effect under existing incentive schemes.
ENQUIRIES
EQTEC plc +44 20 3883 7009
David Palumbo / Nauman Babar
Strand Hanson - Nomad & Financial Adviser +44 20 7409 3494
James Harris / Richard Johnson
Panmure Gordon - Broker +44 20 7886 2500
John Prior / Hugh Rich
Instinctif - Media & investor relations enquiries EQTEC@instinctif.com (mailto:EQTEC@instinctif.com)
Guy Scarborough / Tim Field +44 791 717 8920 / +44 788 788 4794
About EQTEC plc
As one of the world's most experienced gasification technology and engineering
companies, with a growing track record of delivering operational and
commercial success for transforming waste-to-energy through best-in-class
technology innovation, engineering and project development, EQTEC brings
together design innovation, project delivery discipline and solid commercial
experience to add momentum to the global energy transition. EQTEC's proven,
proprietary and patented technology is at the centre of clean energy
projects, sourcing local waste, championing local businesses, creating local
jobs and supporting the transition to localised, decentralised and resilient
energy systems.
EQTEC designs, supplies and builds advanced gasification facilities in the UK,
EU and US, with highly efficient equipment that is modular and scalable from
1MW to 30MW. EQTEC's versatile solutions process over 50 varieties of
feedstock, including forestry wood waste, vegetation and other agricultural
waste from farmers, industrial waste and sludge from factories and municipal
waste, all with no hazardous or toxic emissions. EQTEC's solutions produce a
pure, high-quality synthesis gas ("syngas") that can be used for the widest
range of applications, including the generation of electricity and heat,
production of synthetic natural gas (through methanation) or biofuels (through
Fischer-Tropsch, gas-to-liquid processing) and reforming of hydrogen.
EQTEC's technology integration capabilities enable the Group to lead
collaborative ecosystems of qualified partners and to build sustainable waste
reduction and green energy infrastructure around the world.
The Company is quoted on AIM (ticker: EQT) and the London Stock Exchange has
awarded EQTEC the Green Economy Mark, which recognises listed companies with
50% or more of revenues from environmental/green solutions.
Further information on the Company can be found at www.eqtec.com
(http://www.eqtec.com/) .
PDMR Notification
The notifications below are made in accordance with the requirements of UK
MAR:
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name David Palumbo
2. Reason for the Notification
a) Position/status Director (CEO)
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 N/A
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 EUR 0.001 each
Identification code
b) Nature of the Transaction Grant of LTIP options subject to vesting conditions
c) Price(s) and volume(s) Price(s) Volume(s)
€0.001(exercise price) 135,000,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 23 June 2023
f) Place of the transaction AIM (LSE)
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
23 June 2023
f)
Place of the transaction
AIM (LSE)
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Jeffrey Vander Linden
2. Reason for the Notification
a) Position/status Director (COO)
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 N/A
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 EUR 0.001 each
Identification code
b) Nature of the Transaction Grant of LTIP options subject to vesting conditions
c) Price(s) and volume(s) Price(s) Volume(s)
€0.001(exercise price) 135,000,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 23 June 2023
f) Place of the transaction AIM (LSE)
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
23 June 2023
f)
Place of the transaction
AIM (LSE)
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Nauman Babar
2. Reason for the Notification
a) Position/status Director (CFO)
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 N/A
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 EUR 0.001 each
Identification code
b) Nature of the Transaction Grant of LTIP options subject to vesting conditions
c) Price(s) and volume(s) Price(s) Volume(s)
€0.001(exercise price) 105,000,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 23 June 2023
f) Place of the transaction AIM (LSE)
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
23 June 2023
f)
Place of the transaction
AIM (LSE)
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Dr. Yoel S. Alemán Méndez
2. Reason for the Notification
a) Position/status Director (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 N/A
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 EUR 0.001 each
Identification code
b) Nature of the Transaction Grant of LTIP options subject to vesting conditions
c) Price(s) and volume(s) Price(s) Volume(s)
€0.001(exercise price) 92,820,000
d) Aggregated information N/A (Single transaction)
Aggregated volume Price
e) Date of the transaction 23 June 2023
f) Place of the transaction AIM (LSE)
d)
Aggregated information
Aggregated volume Price
N/A (Single transaction)
e)
Date of the transaction
23 June 2023
f)
Place of the transaction
AIM (LSE)
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