London-listed EQTEC gains on progress of settlement agreement with Logik

Forgent

01/05/2024 12:28

** Shares of bioscience energy firm EQTEC Plc  EQTE.L  rise
as much as 12.6% to 1.97p, stock set for its best day since Jan.
16 if gains hold
    ** EQTE says a condition fulfilled for settlement agreement
with Logik Developments Ltd and its unit Logik WTE
    ** EQTE says it got written confirmation from Logik that
exchange of a site at Deeside Industrial Park to a proposed
purchaser has taken place and co due to receive 2 mln pounds 
($2.5 mln) under the settlement agreement
    ** Ireland-headquartered EQTEC says long stop date for
completion of settlement set for June 28 and completion expected
by May end
    ** Stock up 4.3% as of 1111 GMT, trimming YTD losses to ~39%


($1 = 0.8014 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))