Business
Issue of shares to Loan Facility Provider
Issue of shares to Loan Facility Provider.
About this update from Forgent Plc
[{"type":"text","content":"\n \nRNS Number : 1801A EQTEC PLC 24 May 2019 \n\n24 May 2019\n \nEQTEC plc\n \n(\"EQTEC\" or the \"Company\")\n \nIssue of shares to Loan Facility Provider\n \nEQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that the Company has today issued 33,767,588 new ordinary shares of €0.001 each (\"Ordinary Shares\") to Cuart Investments Fund and associates (the \"Lenders\") in settlement of US$300,362 of principal and accrued interest due in May under the loan facility with the Lenders as announced on 5 July 2018 and as amended as announced on 3 October 2018 and 11 January 2019 (the \"Loan Facility\").\n \nFollowing settlement of the above amount, the outstanding principal owed under the Loan Facility is now US$2,262,848, which, together with interest due, will be repaid in varying monthly instalments, with the final balance being paid in June 2020.\n \nApplication will be made for the admission to AIM of these 33,767,588 new Ordinary Shares and trading is expected to start on 30 May 2019.\n \nFollowing admission, the Company will have a total of 2,004,316,746 Ordinary Shares in issue carrying voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, with effect from admission, this figure may be used by shareholders 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.\n \nEnquiries\n \n\n\n\nEQTEC plc\n\n\n+353 (0)21 2409 056\n\n\n\n\nIan Price - Chief Executive Officer \nGerry Madden - Finance Director\n \n\n\n\n\n\n\n\nStrand Hanson - Nomad, Financial Adviser & Broker\n\n\n+44 (0) 20 7409 3494\n\n\n\n\nJames Harris / Richard Tulloch / Jack Botros\n \n\n\n\n\n\n\n\nIFC Advisory - Financial PR & IR\n\n\n+44 (0) 20 3934 6630\n\n\n\n\nTim Metcalfe / Miles Nolan / Zach Cohen\n\n\n\n\n\n\n \nNotes to Editors\n \nAbout EQTEC plc\n \nEQTEC's business model involves sourcing and providing assistance in developing waste elimination projects to which it will ul...