REG - EQTEC PLC - Result of Placing, Subscription, PrimaryBid Offer

EQTECAnnouncement

14/07/2022 07:00

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RNS Number : 4623S  EQTEC PLC  14 July 2022

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This announcement contains inside information for the purposes of the UK
version of Article 7 of Regulation (EU) 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in the public
domain.

 

14 July 2022

EQTEC plc

("EQTEC", the "Company" or the "Group")

 

Results of Placing, PrimaryBid Offer and Subscription

Directors' Dealings

Related Party Transactions

EQTEC plc (AIM: EQT), a world innovation company enabling the Net Zero Future
through advanced solutions for hydrogen, biofuels, SNG and other energy
production, announces that, further to its announcement of 4.50 p.m. yesterday
(the "Launch Announcement"), it has successfully completed the Fundraising
which is now closed.

The Fundraising has raised £3.75 million (before expenses) through the
placing of 233,385,650 Placing Shares, subscription for 73,614,350 PrimaryBid
Shares and subscription for 443,000,000 Subscription Shares, in each case at
an Issue Price of 0.5 pence per share.

Capitalised terms used but not defined in this announcement shall have the
meaning given to them in the Launch Announcement.

Related Party Transactions - Directors' and substantial shareholder
participation in the Subscription

Yoel Aleman, David Palumbo, Jeffrey Vander Linden, Nauman Babar and Thomas
Quigley, each of whom are Directors of the Company (the "Subscribing
Directors"), have agreed to subscribe for an aggregate of 37,000,000
Subscription Shares at the Issue Price. The Subscribing Directors are related
parties as defined in the AIM Rules. As a result, their participation in the
Subscription are related party transactions pursuant to Rule 13 of the AIM
Rules.

Altair Group Investment Limited ("Altair") has an existing holding of
1,634,091,107 Ordinary Shares in the Company representing 19.0 per cent. of
the Company's issued share capital and, as such, is a substantial shareholder
as defined in the AIM Rules. Altair has agreed to subscribe for 80,000,000
Subscription Shares at the Issue Price. As a result, their participation in
the Subscription is a related party transaction pursuant to Rule 13 of the AIM
Rules.

Accordingly, Ian Pearson, the independent director of the Company (being the
director other than the Subscribing Directors), having consulted with the
Company's Nominated Adviser, Strand Hanson Limited, considers the terms of the
participation by the Subscribing Directors and Altair to be fair and
reasonable insofar as the Company's shareholders are concerned.

On Admission, following the issue of the Subscription Shares, the interests of
the Subscribing Directors and Altair in the Company's enlarged issued share
capital will be as follows:

 Subscriber             Resultant shareholding  % enlarged issued share capital
 Yoel Aleman,           185,791,970             1.98%
 David Palumbo          60,809,627              0.65%
 Jeffrey Vander Linden  21,560,914              0.23%
 Nauman Babar           1,000,000               0.01%
 Thomas Quigley         29,854,154              0.32%
 Altair                 1,714,091,107           18.27%

 

Admission and Total Voting Rights

The Company will make an application to London Stock Exchange plc for an
aggregate of 782,657,286 Ordinary Shares, comprising 233,385,650 Placing
Shares, 73,614,350 PrimaryBid Shares, 443,000,000 Subscription Shares and
32,657,286 Supplier Shares, to be admitted to trading on AIM ("Admission"). It
is expected that Admission will become effective and dealings will commence on
19 July 2022.  The New Shares will rank pari passu with the existing
Ordinary Shares.

Following Admission, there will be 9,381,682,212 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.

 

 

ENQUIRIES

 EQTEC plc                                           +353 21 2409 056
 David Palumbo / Nauman Babar

 Strand Hanson - Nomad & Financial Adviser           +44 20 7409 3494
 James Harris / Richard Johnson

 Canaccord Genuity - Joint Broker                    +44 20 7523 8000
 Henry Fitzgerald-O'Connor / Patrick Dolaghan

 Arden Partners - Joint Broker                       +44 20 7614 5900
 Ruari McGirr (Corporate) / Simon Johnson (Sales)

 Alma PR - Financial Media & Investor Relations      +44 20 3405 0205
 Josh Royston / Sam Modlin                           eqtec@almapr.co.uk (mailto:@almapr.co.uk)

 Instinctif - General Media Enquiries                +44 20 7457 2381 / +44 7887 884794
 Chris Speight / Tim Field                           eqtec@instinctif.com

 

PDMR Notification Form:

The notification below is made in accordance with the requirements of the
Market Abuse Regulation:

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1.  Yoel Aleman

                                                                  2.  David Palumbo

                                                                  3. Jeffrey Vander Linden

                                                                  4. Nauman Babar

                                                                  5. Thomas Quigley
 2.  Reason for the Notification
 a)  Position/status                                              1.  Director (CTO)

                                                                  2.  Director (CEO)

                                                                  3.  Director (CFO)

                                                                  4.  Director (COO)

                                                                  5.   Non-executive Director
 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                                                          63540085VSYVDEINJO04
 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 EUR0.001 each
     Identification code                                          IE00BH3XCL94
 b)  Nature of the Transaction                                    Issue of shares
 c)  Price(s) and volume(s)                                       Price(s)   Volume(s)
                                                                  0.5 pence  1. 15,000,000

                                                                        2. 15,000,000

                                                                        3. 4,000,000

                                                                        4. 1,000,000

                                                                        5. 2,000,000
 d)  Aggregated information                                       N/A (Single transactions - see above)

     Aggregated volume Price
 e)  Date of the transaction                                      14 July 2022
 f)  Place of the transaction                                     AIM (LSE)

d)

Aggregated information

Aggregated volume Price

N/A (Single transactions - see above)

e)

Date of the transaction

14 July 2022

f)

Place of the transaction

AIM (LSE)

 

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