REG - EQTEC PLC - PrimaryBid Offer

EQTECAnnouncement

13/07/2022 17:00

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RNS Number : 3974S  EQTEC PLC  13 July 2022

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO, THE UNITED STATES (INCLUDING ITS TERRITORIES AND
POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA),
CANADA, AUSTRALIA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY
OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014.

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION
OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF EQTEC PLC.

THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION
21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN
APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE
FINANCIAL CONDUCT AUTHORITY (FRN 779021).

 

 

13(th) July 2022

 

EQTEC plc

("EQTEC" or the "Company")

PrimaryBid Offer

·   EQTEC announces a retail offer via PrimaryBid;

·   The Issue Price for the PrimaryBid Shares is 0.5p per retail share,
representing a discount of 23 per cent to the closing price on 13(th) July
2022;

·   Investors can access the PrimaryBid Offer by visiting
www.primarybid.com (http://www.primarybid.com) and downloading the PrimaryBid
mobile app;

·   Both the Placing Shares and PrimaryBid Shares will be sold at the Issue
Price;

·   There is a minimum subscription of £250 per investor in the PrimaryBid
Offer;

·   No commission is charged by PrimaryBid on applications to the
PrimaryBid Offer.

PrimaryBid Offer

EQTEC plc (AIM: EQT) is pleased to announce, a conditional offer for
subscription via PrimaryBid (the "PrimaryBid Offer") of up to 600,000,000 new
Ordinary Shares of €0.001 each in the Company ("PrimaryBid Shares") at an
issue price of 0.5 pence per new Ordinary Share (the "Issue Price"), being a
discount of 23 per cent to the closing mid-price on 13(th) July 2022.  The
Company is also conducting a placing of new Ordinary Shares (the "Placing
Shares") at the Issue Price by way of an accelerated bookbuild process (the
"Placing"). The Company has today further announced a direct subscription with
the Company of new Ordinary Shares (the "Subscription" and, together with the
Placing and the PrimaryBid Offer, the "Fundraising").

The Fundraising is conditional on the new Ordinary Shares to be issued
pursuant to the Fundraising being admitted to trading on AIM
("Admission"). Admission is expected to be take place at 8.00 a.m. on 19(th)
July 2022. The PrimaryBid Offer and Subscription will not be completed without
the Placing also being completed.

The Company will use the net proceeds of the Fundraising to:

·    maintain momentum with existing projects critical for demonstrating
EQTEC's capabilities and raising awareness of them;

·    accelerate growth by pursuing second and/or third projects in
existing markets; and

·    build for scale by extending the capability and capacity to support
the pipeline and take on an increasing number of projects.

Reason for the PrimaryBid Offer

The Company values its retail investor base and is therefore pleased to
provide private and other investors the opportunity to participate in the
PrimaryBid Offer by applying through the PrimaryBid mobile app available on
the Apple App Store and Google Play. PrimaryBid does not charge investors any
commission for these services.

The PrimaryBid Offer, via the PrimaryBid mobile app, will be open to
individual and institutional investors following the release of this
announcement. The PrimaryBid Offer is expected to close not later than 9.00
p.m. on 13(th) July 2022.  The PrimaryBid Offer may close early if it is
oversubscribed.

The Company reserves the right to scale back any order at its discretion. The
Company and PrimaryBid reserve the right to reject any application for
subscription under the PrimaryBid Offer without giving any reason for such
rejection.

No commission is charged to investors on applications to participate in the
PrimaryBid Offer made through PrimaryBid.  It is vital to note that once an
application for PrimaryBid Shares has been made and accepted via PrimaryBid,
an application cannot be withdrawn.

For further information on PrimaryBid or the procedure for applications under
the PrimaryBid Offer, visit www.PrimaryBid.com (http://www.primarybid.com/)
 or email PrimaryBid at enquiries@primarybid.com.

The new Ordinary Shares will be issued free of all liens, charges and
encumbrances and will, when issued and fully paid, rank pari passu in all
respects with the Company's existing Ordinary Shares.

 EQTEC                                                +353 21 2409 056

 David Palumbo / Nauman Babar
                                                      enquiries@primarybid.com

 PrimaryBid Limited

 Charles Spencer / James Deal

 Strand Hanson - Nominated & Financial Adviser        +44 20 7409 3494

 James Harris / Richard Johnson

 Alma PR - Financial Media & Investor Relations       +44 20 3405 0205

 Josh Royston / Sam Modlin                            EQTEC@almapr.co.uk

 Instinctif - General Media Enquiries                 +44 20 7457 2381 / +44 7887 884794

 Chris Speight / Tim Field                            EQTEC@instinctif.com

 

Details of the PrimaryBid Offer

The Company highly values its retail investor base which has supported the
Company alongside institutional investors over several years. Given the
longstanding support of retail shareholders, the Company believes that it is
appropriate to provide retail and other interested investors the opportunity
to participate through the PrimaryBid Offer. The Company is therefore making
the PrimaryBid Offer available exclusively through the PrimaryBid mobile app.

Allocations under the PrimaryBid Offer will be limited to £3 million and,
accordingly, the Company is not required to prepare and has not prepared, a
prospectus in respect of the PrimaryBid Offer as it falls within the exemption
set out in section 86(1)(e) and section 86(4) of the Financial Services and
Markets Act 2000. As such, there is no need for publication of a prospectus
pursuant to the Prospectus Rules, or for approval of the same by the Financial
Conduct Authority. The PrimaryBid Offer is not being made into any Restricted
Jurisdiction or any other jurisdiction where it would be unlawful to do so.

There is a minimum subscription of £250 per investor under the terms of the
PrimaryBid Offer which is open to existing shareholders and other investors
subscribing via the PrimaryBid mobile app.

For further details please refer to the PrimaryBid website
at www.PrimaryBid.com (http://www.primarybid.com/) . The terms and conditions
on which the PrimaryBid Offer is made, including the procedure for application
and payment for new Ordinary Shares, is available to all persons who register
with PrimaryBid.

Investors should make their own investigations into the merits of an
investment in the Company. Nothing in this announcement amounts to a
recommendation to invest in the Company or amounts to investment, taxation or
legal advice.

It should be noted that a subscription for new Ordinary Shares and investment
in the Company carries a number of risks. Investors should consider the risk
factors set out on www.PrimaryBid.com (http://www.PrimaryBid.com) and the
PrimaryBid mobile app before making a decision to subscribe for new Ordinary
Shares. Investors should take independent advice from a person experienced in
advising on investment in securities such as the new Ordinary Shares if they
are in any doubt.

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Exchange. RNS is approved by the Financial Conduct Authority to act as a
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