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RNS
EQTEC PLC   -  EQT   

Loan Note Conversion Notice

Released 11:18 25-May-2018

RNS Number : 3498P
EQTEC PLC
25 May 2018
 

25 May 2018

 

EQTEC plc

 

("EQTEC" or the "Company")

 

Loan Note Conversion Notice

 

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, received on 24 May 2018 a conversion notice pursuant to the Unsecured Loan Note Facility announced on 28 February 2018 for the principal amount of £100,000 to be converted at 0.3p per share into 33,333,333 new ordinary shares in the Company.

 

Upon issue, the new ordinary shares would comprise 2.29% of the enlarged issued share capital of the Company.

 

The Company has been notified by the Loan Note Investor that the current conversion took place to cover an existing open short position that the Investor had taken in the Company's shares and that it will allow sufficient time for the debt discussions noted in the announcement made by the Company dated 23 May to conclude, and during that period the Investor will not convert any further bonds or take any new short positions in the Company's share capital.

 

Application will be made for the admission to AIM of the new ordinary shares in accordance with the terms of the Loan Note agreement.   

 

 

 

Enquiries

 

EQTEC plc

+353 (0)21 2409 056

Luis Sanchez - Chief Executive Officer

Gerry Madden - Finance Director

 

 

 

Northland Capital Partners Limited - Nomad and Joint Broker

 +44 (0)20 3861 6625

Tom Price / Dugald J. Carlean

 

 

 

SVS Securities Plc - Joint Broker

+44 (0)20 3700 0093

Tom Curran / Ben Tadd

 

 

 

VSA Capital Limited - Joint Broker

+44 (0)20 3005 5000

Andrew Monk / Andrew Raca

 

 

 

Luther Pendragon - Financial PR

+44 (0)20 7618 9100

Harry Chathli / Alexis Gore / Ana Ribeiro

 

 

 

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

 


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Loan Note Conversion Notice - RNS