Business
Completion of Proposals
EQTEC PLC has completed a comprehensive corporate reset, raising £1.3 million through an equity placing and restructuring its debt, significantly reducing its liabilities from approximately £5.8 million to £1.93 million in secured and £1.93 million in unsecured debt. The company is also set to finalize the acquisition of a copper-gold asset and an option on a second exploration project, aligning with its expanded strategy. This transaction, alongside the issuance of new shares to creditors and management, and the granting of warrants, is expected to unlock near-term value while gasification remains its core business. Admission of the new shares is anticipated on or around February 20, 2026, with the company also preparing for a name change to Forgent plc. Disclaimer*
About this update from Forgent Plc
[{"type":"text","content":"\n\n \n \n16 February 2026\nEQTEC PLC\n(\"EQTEC\" or the \"Company\")\nCompletion of Equity Fundraise, Debt Restructuring and Asset Acquisition\nEQTEC PLC (AIM: EQT), the technology-led energy transition company, is pleased to announce the completion of its comprehensive corporate reset - comprising an equity fundraise and the restructuring of certain existing debt facilities, as previously announced on 29 January 2026 (the \"Announcement\"). The acquisition of a copper-gold exploration asset and the acquisition of an option over a second exploration project, in line with the Company's expanded strategy detailed in the Announcement, are also expected to complete shortly.\nJames Parsons, CEO of EQTEC plc, commented:\n\"Completion of this transaction decisively resets our capital structure, secures critical funding and will unlock meaningful near-term copper-gold value catalysts for the Company. While we have strategically expanded into critical and precious metals, gasification remains unequivocally at our core and our primary long-term value driver.\n\"We will shortly outline the copper-gold work programme, including the key operational milestones we expect to drive momentum and tangible value creation from this asset.\"\nPlacing\n \nThe Placing has raised £1.3 million (before expenses) through the placing of 3,714,285,714 Placing Shares, at a price of 0.035 pence per share (the \"Placing Price\").\n \nDebt Restructuring\n \nThe Company has entered into definitive binding documentation to materially deleverage the Company and remove any near-term refinancing risk (the \"Debt Restructuring\"). The Company previously owed an amount of approximately £5.8 million to RiverFort Global Opportunities PCC Ltd (\"RiverFort\") and YA II PN, Ltd (\"YA\" and together with RiverFort, the \"Secured Lenders\"), pursuant to secured facility agreements (the \"Existing Indebtedness\"). The Existing Indebtedness comprised a £5.1 million secured term loan due December 2027 and a £0.69 million convertible loan due March 2026.\n \nAs a result of the Debt Restructuring, EQTEC now retains approximately £1.93 million of secured long-dated, zero-coupon debt and an unsecured debt of £1.93 million in its Spanish subsidiary.\n \nTo achieve the Debt Restructuring in the most efficient manner, the c.£5.1 million secured and c...