REG - EQTEC PLC - Result of WRAP Retail Offer

EQTECAnnouncement

09/09/2024 08:15

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RNS Number : 4059D  EQTEC PLC  09 September 2024

9 September 2024

 

EQTEC plc

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

 

Result of WRAP Retail Offer

 

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 is pleased to announce, further
to the announcements of 4 September 2024 of the Fundraise, the completion of
the WRAP Retail Offer at the Issue Price. The WRAP Retail Offer, which closed
at 4:30 p.m. on Friday 6 September 2024, has raised gross proceeds of
£72,528.15 through the issue of a total of 7,252,815 new Ordinary Shares to
existing retail shareholders in the United Kingdom.

 

The Fundraise, which is conditional on Admission, has raised gross proceeds
of, in aggregate, £1,172,528.15 via the issue of 110,000,000 new Ordinary
Shares pursuant to the Placing and Subscription and 7,252,815 new Ordinary
Shares pursuant to the WRAP Retail Offer.

 

Use of Proceeds

The net proceeds of the Fundraise, along with the Company's existing cash
resources, will be deployed for general working capital purposes and to
accelerate the implementation of its strategy.

 

Admission of WRAP Retail Offer shares and Total Voting Rights

Application is being made for the 7,252,815 new Ordinary Shares pursuant to
the WRAP Retail Offer, which will rank pari passu with the existing Ordinary
Shares, to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings on AIM is expected to commence on
or around 13 September 2024.

 

On Admission of the 7,252,815 WRAP Retail Offer Shares (together with the
110,000,000 Fundraise Shares, 52,200,000 Conversion Shares and 7,711,059
Supplier Shares, as announced on 4 September 2024), the Company's issued share
capital will consequently consist of 434,774,785 Ordinary Shares, each with
one voting right.  There are no shares held in treasury. Therefore, the
Company's total number of Ordinary Shares and voting rights will be
434,774,785 and this figure may be used by shareholders following Admission as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the UK Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

 

Unless otherwise defined herein, all defined terms used in this announcement
shall have the meanings ascribed to them in the Company's announcements of 4
September 2024.

 

 

ENQUIRIES

 

 EQTEC plc                                      +44 20 3883 7009

 David Palumbo / Jeffrey Vander Linden

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

 James Harris / Richard Johnson

 Fortified Securities - Broker                  +44 20 3411 7773

 Guy Wheatley

 Global Investment Strategy UK Ltd - Broker     +44 20 7048 9045

 Samantha Esqulant

 Winterflood Retail Access Platform             WRAP@winterflood.com (mailto:WRAP@winterflood.com)

 Andrew Stancliffe / Joe Winkley                +44 20 3100 0000

 

 

About EQTEC

 

As one of the world's most experienced thermochemical conversion technology
and engineering companies, EQTEC delivers waste management and new energy
solutions through best-in-class innovation and infrastructure engineering and
value-added services to owner-operators. EQTEC is one of only a few technology
providers directly addressing the challenge of replacing fossil fuels for
reliable, baseload energy. 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, specifies and delivers clean, syngas production solutions in
the USA, EU and UK, with highly efficient equipment that is modular and
scalable from 1MW to 30MW. EQTEC's versatile solutions process 60 varieties of
feedstock, including forestry waste, agricultural waste, industrial waste 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 renewable 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 the London Stock Exchange's Alternative Investment
Market (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/) .

 

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