Business
Director share subscription and share issue
Director share subscription and share issue.
About this update from Forgent Plc
[{"type":"text","content":"\n \nRNS Number : 3939F EQTEC PLC 29 October 2018 \n\n \n29 October 2018\n \nEQTEC plc\n \n(\"EQTEC\" or the \"Company\")\n \nDirector share subscription and share issue\n \nEQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces the following subscription for new shares in the Company's ordinary shares of €0.001 each (\"Ordinary Shares\") by certain Directors of the Board. The Ordinary Shares were issued by the Company to the below Directors at an issue price of 0.93 pence per Ordinary Share and were allotted on 26 October 2018. \n \nIan Pearson, Chairman of EQTEC, commented: \n \n\"Following recent agreements, the Company is well capitalised and is continuing to execute on its growth optimisation plan whilst maintaining tight cost control. Today's subscription by the Directors is a demonstration of our belief in the way the outcomes of the Strategic Review recently completed by Ian Price as CEO are being implemented as well as the execution of EQTEC's strategy going forward.\"\n \nDetails of the shares allotted to Directors are set out below:\n \n\n\n\n\nDirector\n\n\nNumber of Ordinary Shares Allotted\n\n\nAllotment Price per Ordinary Share\n\n\nBeneficial Interest following the Purchase\n\n\nTotal per cent. held after the issue\n\n\n\n\nIan Pearson\nNon-Executive Chairman\n\n\n \n537,634\n \n\n\n \n0.93 pence\n\n\n \n537,634\n\n\n \n0.03%\n\n\n\n\nIan Price\nChief Executive Officer\n\n\n \n725,806\n\n\n \n0.93 pence\n\n\n \n725,806\n\n\n \n0.04%\n\n\n\n\nGerry Madden\nFinance Director\n\n\n569,677\n\n\n0.93 pence\n\n\n1,386,817\n\n\n0.08%\n\n\n\n\nTom Quigley\nNon-Executive Director\n\n\n \n193,548\n\n\n \n0.93 pence\n\n\n \n193,548\n\n\n \n0.01%\n\n\n\n\n \n \nUnder the agreement with the Company's Joint Broker VSA Capital Limited, advisor fees totaling £39,750 are to be converted into 4,274,194 Ordinary Shares in the Company at an issue price of 0.93 pence per share. \n \nApplication will be made for the admission to AIM of these 6,300,859 new ordinary shares and trading is expected to start on 2 November 2018.\nFollowing admission, the Company will have a total of 1,804,744,243 Ordinary Shares in issue carrying voting rights. This fi...